#Ethereum ETFs continue to leave Bitcoin ETFs behind, garnering $1.4 billion in a week compared to $748 million for the competitor, according to a report by CoinShares. Global cryptocurrency investment products from giants such as #BlackRock , Bitwise, Fidelity, Grayscale, ProShares, and 21Shares demonstrated a net capital inflow of $2.48 billion last week.
These numbers are particularly impressive against the backdrop of the previous week when there was an outflow of funds. Overall, August brought $4.37 billion in net investment inflow, and the total figure since the beginning of the year reached $35.5 billion. However, assets under management have dropped by 10% from a recent peak to $219 billion due to negative price dynamics in the cryptocurrency market.
U.S. inflation data disappointed investors
"Capital inflow remained strong throughout the week but turned negative on Friday after the release of the Core Personal Consumption Expenditures (PCE) index data, which did not support expectations for interest rate cuts by the Federal Reserve in September, disappointing digital asset investors," noted CoinShares' Head of Research James Butterfill in the Monday report.
Interestingly, U.S. funds captured leadership with $2.29 billion of the total capital inflow. However, positive sentiment also spread to other regions. Switzerland added $109.4 million, Germany $69.9 million, and Canada $41.1 million.
Ethereum dominates over Bitcoin
Ethereum-based funds continued their global dominance, attracting another $1.4 billion in net investment inflow compared to $748 million for Bitcoin products. American spot Ethereum ETFs accounted for $1.08 billion of this amount, according to data from The Block, while American spot Bitcoin ETFs attracted $440.8 million.
Throughout August, Ethereum funds recorded a total capital inflow of $3.95 billion, while their Bitcoin counterparts faced an outflow of $301 million. This contrast demonstrates the growing interest of institutional investors specifically in Ethereum.
Butterfill emphasizes: "The broad regional distribution of investment inflows indicates that the capital outflow on Friday was likely triggered by profit-taking rather than indicating a more concerning trend for the asset class."
Alternative cryptocurrencies are gaining momentum
Investment products based on Solana and $XRP also showed a net capital inflow of $177 million and $134 million, respectively. This dynamic is driven by optimism regarding the potential launch of spot ETFs in the U.S. for these assets.
CoinShares data shows that institutional interest in cryptocurrencies remains high despite short-term fluctuations. Ethereum clearly wins the race for the attention of major investors, leaving Bitcoin in the shadow of its success.
