Crypto Market Sees $2.5 Billion Inflows with Ethereum Leading
- CoinShares reported $2.5 billion in inflows into the crypto market last week.
- Ethereum led with $1.4 billion, outperforming Bitcoin, which attracted $748 million.
- Solana and XRP saw inflows of $177 million and $134 million due to optimism around US crypto ETFs.
Total inflows for August reached $4.37 billion, contributing to a year-to-date total of $35.5 billion. Earlier in August, there was a brief outflow of $223 million, primarily driven by Bitcoin's $404 million outflow.
Despite a strong start to the week, Friday's market response to Core PCE data resulted in a slight decline in investor sentiment. Total Assets Under Management (AUM) fell 10% from its peak to $219 billion.
Current prices are $108,421.26 for Bitcoin, down 1.07%, and $4,407.32 for Ethereum, down 1.13%.