Last week, cryptocurrency exchange-traded products registered solid inflows of $2.48 billion after reversing the prior week’s significant $1.4 billion outflows.
Bitcoin dropped despite fresh flows, dipping below $108,000 after previously surging above $113,000, according to CoinGecko market data.
Ether tracked Bitcoin’s volatility and dropped below $4,300 after beginning the week above $4,600, marking a rough period for major digital currencies.
Flows were unprecedented new flows after significant outflows earlier, but below July’s record new inflows of $4.4 billion.
Ether exchange-traded funds led investor interest and raised $1.4 billion, while Bitcoin-related funds recorded smaller but meaningful inflows of $748 million.
Verified daily fund data confirmed that Ether funds recorded six successive inflow days, while Bitcoin maintained a four-day streak before Friday reversals.
Crypto Funds Record $4.37 Billion in August
Solana registered inflows of $177 million, with XRP taking in $134 million on the back of rising optimism about potential United States ETF launches.
These inflows were showing optimism spreading outside of Bitcoin and Ether, implying that investors were considering exposure elsewhere beyond Bitcoin and Ether.
Total investment funds in cryptocurrencies registered $4.37 billion in inflows over August and added year-to-date figures that surged high at $35.5 billion.
Despite the reported progress, assets under management fell by around 7 percent, falling to $219 billion from $234.7 billion the previous week.
July’s historic high recorded $12 billion of inflows in a single month, within a streak of 15 successive weeks of unbroken investor commitments.
Ether Dominates August With Crypto Inflows
Compared with year-earlier data, inflows jumped 58 percent from September of a year ago, and assets under management increased 165 percent year-over-year.
MTD data revealed that Bitcoin witnessed $301 million of outflows, while Ether dominance was evident, with ETPs registering nearly $4 billion of inflows.
More than ninety percent of the inflows of August were of Ether, which indicated its strong investor demand compared to Bitcoin’s rather weak performance.
Even though inflows seemed ubiquitous on several assets, falling market prices did indicate that conservative sentiment persisted, even with increased institutional engagement.
Observers were aware of fluctuating trends, where investor sentiments were directed more toward Ether and selective altcoins, indicating altered confidence trends within international crypto markets.
