---
title: "Bitcoin inflows surge to $543 million after Powell’s dovish comments"
url: https://diffcoin.com/bitcoin-inflows-surge-to-543-million-after-powells-dovish-comments/
description: "Digital asset investment products see $533m inflows, largest in 5 weeks, as investors' interest rises following Powell's dovish comments."
published: 2024-08-26
updated: 2024-08-26
author: "Mila"
site: "Diffcoin"
---

# Bitcoin inflows surge to $543 million after Powell’s dovish comments

### Key Takeaways

- Digital asset investment products saw $533m inflows, the largest in five weeks.
- New Ethereum ETFs have seen $3.1bn of inflows, partially offset by $2.5bn Grayscale Trust outflows.

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Crypto products saw inflows totaling $533 million last week, marking the largest inflows in five weeks.

As reported by CoinShares, this surge followed Jerome Powell’s remarks at the Jackson Hole Symposium, suggesting a potential interest rate cut in September.

Bitcoin (BTC) was the primary beneficiary, with $543 million in inflows, mostly occurring on Friday after Powell’s comments. This indicates Bitcoin’s sensitivity to interest rate expectations.

As reported by Crypto Briefing, spot BTC exchange-traded funds (ETFs) in the US amassed over $500 million in net flows last week. BlackRock’s IBIT led the pack capturing $310 million in cash, while Fidelity’s FBTC came in second by attracting roughly $88 million.

Ethereum (ETH) experienced $36 million in outflows, despite new Ethereum ETFs traded in the US registering $60.7 million in inflows last week.

The net outflows were seen mainly because of Grayscale’s ETHE $118 million in fleeing capital. A month after ETH ETF launches, new Ethereum ETFs have seen $3.1 billion inflows, partially offset by $2.5 billion outflows from the Grayscale Trust.

Moreover, Solana (SOL) funds saw just $100,000 in inflows last week, as its month-to-date flows are at negative $34.3 million. Meanwhile, ETH’s year-to-date flows sit at $832 million, significantly fueled by the $120 million seen in August so far.

Regionally, the US led with $498 million in inflows, followed by Hong Kong and Switzerland with $16 million and $14 million respectively. Germany saw minor outflows of $9 million, making it one of the few countries with net outflows year-to-date.

![Sapphire](https://static.cryptobriefing.com/wp-content/uploads/2024/03/18060845/600x500.jpg)

Notably, Brazil and Canada sustain the largest amount of monthly inflows except the US, with $39.5 million and $47.5 million invested in crypto funds respectively.

Blockchain equities recorded inflows for the third week, totaling $4.8 million. Meanwhile, trading volumes, while lower than in recent weeks, remained high at $9bn for the week.

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