Crypto asset investment products experienced a notable pullback last week, led by Bitcoin, with outflows totaling $812 million.
Despite this short-term dip, the year-to-date inflows remain strong at $39.6 billion, according to CoinShares’ latest weekly report. This implies sustained investor interest close to last year’s record $48.6 billion.
US Markets Drive Outflows Amid Rate Cut Doubts
The U.S. led the pack with outflows amounting to $1 billion. This decline in investment activity comes as expectations for two US interest rate cuts in 2025 have cooled following stronger-than-expected macroeconomic data, including modified GDP figures.
Notably, the negative sentiment is concentrated in the U.S., as other regions show resilience, with inflows continuing to flow steadily. Switzerland, Canada, and Germany stand out as key bright spots.
Specifically, they attracted $126.8 million, $58.6 million, and $35.5 million, respectively, in inflows last week. This suggests investor confidence outside the US remains relatively strong.
Bitcoin and Ethereum Face Pressure
Among major digital assets, Bitcoin faced the largest weekly outflows with $719 million leaving investment products. Notably, there was no corresponding rise in short positions against Bitcoin.
Ethereum also experienced notable outflows of $409 million, with September seeing a sharp slowdown in inflows at just $86.2 million for the month compared to $12 billion year-to-date. This pause highlights caution among investors amid the ongoing price struggles from ETH and BTC in the spot market.
Solana and XRP Emerge as Top Performers
Meanwhile, Solana bucked the trend with strong inflows of $291 million. The altcoin’s surge in investor interest is widely attributed to anticipation surrounding upcoming U.S. ETF launches in October.
This latest weekly inflow has elevated Solana’s month-to-date to $628 million, while the yearly figures are at $1.86 billion.
Likewise, XRP also witnessed positive inflows of $93.1 million, benefiting from similar ETF-related optimism. Now, XRP investments have seen monthly flows of $210 million and yearly positive flows of $1.6 billion.
Notably, the assets under management for Solana ETPs are now at $3.64 billion, while those of XRP are at $2.72 billion.
Other crypto assets that registered positive flows for the week include Cardano and SUI.
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