Ethereum leads market recovery in recent downturn with $155 million in revenue.

Ethereum saw the biggest gains from the recent market downturn as investors saw the price weakness as a buying opportunity.

In fact, data suggests that Ethereum managed to attract 155 million dollars in revenue in the last week. According to CoinShares, the latest round of inflows boosted its year-to-date total revenue to $862 million, the highest since 2021, largely due to the recent introduction of US spot-based ETFs.

Entry flows are returned again

In addition to Ethereum, the positive sentiment is evident for other crypto assets as well. Bitcoin, on the other hand, saw a sharp increase in inflows towards the end of the week, bringing its weekly total to $13 million.

On the other hand, short Bitcoin ETPs recorded the largest outflow since May 2023, totaling $16 million (23 percent of AuM), which saw AuM fall to a year-low for short positions, indicating a large investor exit.

CoinShares' Digital Asset Fund Flows weekly report shows that the positive trend continues for investment products related to Solana, XRP and Cardano, which received $4.5 million, $0.7 million and $0.6 million respectively for the week.

Highlighting, digital asset investment products saw a collective $176 million in revenue as investors saw the recent dip as a buying opportunity. Although the total assets under management (AuM) of these products fell to $75 billion – a loss of more than $20 billion during the market correction – it rose to $85 billion after CoinShares estimates.

Meanwhile, trading volume in Exchange-Traded Products (ETPs) rose to $19 billion for the week, well above the $14 billion weekly average seen this year.

Global optimism increases

CoinShares showed an unusual trend of flows from every region last week. This reflects the collective optimism in the property sector following the recent price hike. The most notable came from the US, Switzerland, Brazil and Canada with totals of $89 million, $21.3 million, $20 million and $19.2 million respectively.

Additionally, Germany, Australia, and Sweden saw $12.6 million, $5.9 million, and $5.1 million in weekly earnings, respectively. Despite this, the US remained the only country with net inflows for the month at $306 million.