Ethereum breaks streak of losing $87 million in revenue: CoinShares

Ethereum's five-week low has been reversed as ETH-based production surged to $87 million last week.

According to Coinshares, this was the first measurable influx of revenue since early August, and comes amid a surge in digital asset investment products.

According to the latest edition of the European Asset Managers Weekly Report, digital asset investment products saw inflows for the third consecutive week, totaling $1.2 billion.

This increase could be driven by the favorable monetary policy in the US and the resulting positive price movement. As a result, total assets under management (AuM) increased by 6.2% last week. The sentiment was further explored by the approval of options for certain US-based investment products.

However, despite these positive developments, trading volumes did not show the same growth and instead showed a slight decrease of 3.1% in the week.

Bitcoin attracted $1 billion in weekly inflows, which spurred $8.8 million worth of inflows into short BTC investment products. Solana, meanwhile, saw $4.8 million in outflows.

Coinshares also felt that sentiment was split between altcoins, with Litecoin and XRP earning $2 million and $0.8 million respectively last week. During the same period, Chainlink and Cardano recorded revenues of $0.4 million and $0.1 million, respectively. Meanwhile, BNB recorded an inflow of $1.2 million.

Regional sentiment was mixed, with the US attracting $1.2 billion in revenue and Switzerland posting a record $84 million from mid-2022. Canada and Australia also saw $1 million and $0.6 million in weekly grosses respectively.

In contrast, Germany and Brazil posted withdrawals of $21 million and $3 million respectively. A similar trend was seen in Sweden and Hong Kong, which reported outflows of $2.5 million and $1 million respectively last week.