September 24, 2024
The Fed's key rate cut supported inflows into crypto funds thumbnail
Business

The Fed’s key rate cut supported inflows into crypto funds

Inflows of funds into cryptocurrency investment funds from September 15 to 21 amounted to $321 million after $436 million a week earlier. Such data was provided in CoinShares. Source: CoinShares. Analysts linked the continuation of positive dynamics with the reduction of the Fed’s interest rate by 50 bps. p. ETP trading turnover increased by 9%, to $9.5 billion. The volume of assets under management increased by a similar amount, to $85.8 billion. Ethereum funds continued to be dominated by negative sentiment — the rate of outflow of funds increased from $19 million […]”, — write: businessua.com.ua

The Fed's key rate cut supported inflows into crypto funds - INFBusiness

Inflows of funds into cryptocurrency investment funds from September 15 to 21 amounted to $321 million after $436 million a week earlier. Such data was provided in CoinShares.

The Fed's key rate cut supported inflows into crypto funds - INFBusiness

Source: CoinShares.

Analysts associated the continuation of positive dynamics with the reduction of the interest rate Fed for 50 b. p.

Trade turnover ETP increased by 9% to $9.5 billion.

The volume of assets under management increased by a similar amount, to $85.8 billion.

Ethereum funds continued to be dominated by negative sentiment — the rate of outflow increased from $19 million to $28.5 million. Withdrawals were recorded for the fifth week in a row.

Clients poured $284 million into bitcoin-related instruments, after $436 million.

Investors added $5.1 million to structures that enable shorting digital gold (in the previous reporting period, they took $8.5 million).

Solana-based products received $3.2 million (previously $3.8 million). The positive streak continued for the fifth week in a row.

The reduction of the Fed's key rate supported inflows into crypto funds - INFBusiness

Source: CoinShares.

We will remind, September 20 SEC approved the listing and trading of options on BTC-ETF by BlackRock. Bloomberg stock analyst Eric Balchunas suggested that options will soon be approved for other companies’ instruments as well.

The source

Related posts

Digital Asset Funds See Second Consecutive Week of Inflows: CoinShares

coindesk com

Composite PMI Drops To 54.4, Exceeding Analyst Expectations

fxempire com

Candidate Harris Unlikely to Make Full-Throated Crypto Policy Before Election: Source

coindesk com

Leave a Comment

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More