CoinShares data shows that publicly traded crypto investment products experienced a decline in capital flows at the beginning of September, with weekly trading volume plummeting by 27%.
Despite a weak U.S. employment report and the potential for interest rate cuts in the U.S. bringing an optimistic outlook for risk assets, the decline in trading volume still led to a $352 million outflow from crypto funds over the past week.
CoinShares analysis indicates that the slowdown in activity is primarily influenced by Ethereum (ETH) products, reflecting a decrease in demand for cryptocurrencies among mainstream investors. "The 27% month-over-month decline in trading volume, coupled with small-scale outflows, suggests that market enthusiasm for digital assets has cooled."
Ethereum funds suffered the largest losses at the beginning of September, with $912 million lost in a week. In stark contrast, Bitcoin (BTC) products attracted $524 million in inflows, helping to alleviate the overall market weakness.
From a country perspective, U.S. listed funds saw a cumulative outflow of $440 million last week, while Germany recorded an inflow of $85 million.
Publicly traded crypto funds allow investors to gain exposure to digital assets without directly purchasing or managing cryptocurrencies. These investment tools trade on traditional brokerage platforms, packaging crypto tokens into stocks that track the underlying prices, providing mainstream investors with a convenient way to enter the crypto market.
Despite the slowdown in demand for crypto ETFs, CoinShares stated that inflows for 2025 are still ahead of last year's performance, indicating that "from a broader perspective, market sentiment remains robust."
Jillian Friedman, COO of the crypto staking protocol Symbiotic, commented on Monday regarding the cooling demand for ETH ETFs, stating that these funds are a "risk asset game," and that "profit-taking near historical highs and macroeconomic factors seem to be more likely drivers."
She noted, "The U.S. spot ETH ETF now holds about $26 billion in assets under management, with BlackRock's ETHA managing over $16 billion in assets. This is just a portion of Ethereum's total, but it highlights the rotation of funds rather than a narrative collapse."
According to the Cointelegraph index, Ethereum's spot price remained relatively stable over the past week, fluctuating between $4,450 and $4,273.
Vincent Liu, CIO of Kronos Research, recently told Cointelegraph that ETH is not only "entering a profit-taking phase," but that the inflows into Bitcoin ETFs indicate that, due to macroeconomic uncertainty, funds are flowing into hard assets like gold.
Related: Current key indicators for Ethereum (ETH) show a polarized trend.
Original article: “Report says Ethereum (ETH) funds shed $912 million, crypto ETFs see outflows”
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