Crypto-based Investment Products Bring in $321M

Last week, crypto products had $321 million in inflows, with the exception of Ethereum (ETH) funds which saw negative net flows of $28.5 million, according to a report by CoinShares.

This divergence can be attributed to Grayscale’s ETH exchange-traded fund (ETHE), which continues to experience outflows along with the slow adoption of ETH ETFs.

This marks the fifth consecutive week of outflows for ETH funds. On the other hand, Bitcoin (BTC) had dominating inflows of $284 million, followed by $5.1 million for short Bitcoin products.

Solana products also continued to attract small inflows, with $3.2 million invested last week. The report suggests that the interest rate cut of 50 basis points by the Federal Open Market Committee (FOMC) last week may have influenced the flow of money into crypto funds.