Pessimistic market sentiment drove nearly $2 billion in outflows early in the week. However, remarks from Federal Reserve Chair Jerome Powell at the Jackson Hole symposium gave investors hope for a shift toward monetary easing, which triggered $594 million in inflows.
Trading volumes in exchange-traded products rose to $38 billion, about 50% higher than the yearly average, analysts noted.
Ethereum ETFs recorded $440 million in outflows. Despite this, they attracted $2.5 billion in inflows since the start of August. In comparison, Bitcoin-based investment products saw $1 billion in withdrawals over the same period.
On a yearly basis, the gap is even more pronounced: Ethereum products account for 26% of total assets under management, while Bitcoin products make up only 11%. Experts say this reflects a shift in institutional preference toward Ethereum.
Among altcoins, funds linked to XRP, Solana, and Cronos attracted $25 million, $12 million, and $4.4 million respectively. Meanwhile, Sui-based funds lost $12.9 million, and Toncoin products saw outflows of $1.5 million.