News

According to a report by Jinse Finance, the latest CoinShares report shows that digital asset investment products saw a significant outflow of funds last week for the first time in several weeks, totaling $1.43 billion—the highest level since March. Last week, as investor sentiment toward U.S. monetary policy became increasingly polarized, exchange-traded product (ETP) trading volume reached $38 billion, about 50% higher than this year’s average. Early in the week, pessimism surrounding the Federal Reserve’s stance led to $2 billion in outflows. However, after Jerome Powell’s speech at the Jackson Hole symposium, which was widely interpreted as more dovish than expected, market sentiment shifted, resulting in $594 million in inflows. Ethereum saw a significant midweek rebound, limiting outflows to $440 million, while Bitcoin experienced $1 billion in outflows. Data so far this month shows Ethereum has seen $2.5 billion in inflows, while Bitcoin has had a net outflow of $1 billion, marking a notable shift in investor sentiment toward these two assets. Year-to-date, Ethereum’s inflows account for 26% of its total assets under management, compared to just 11% for Bitcoin.

BlockBeats News, August 25—According to a report by PRNewswire, US-listed company Bitmine (BMNR) announced today that the total value of its cryptocurrency and cash holdings has surpassed $8.82 billion. As of 5:30 p.m. Eastern Time on August 24, the company’s cryptocurrency holdings included 1,713,899 ETH (valued at $4,808 per ETH, data from Bloomberg), 192 Bitcoin (BTC), and $562 million in unrestricted cash. BitMine Chairman Tom Lee stated, “Over the past week, BitMine increased its crypto and cash holdings by $2.2 billion to $8.8 billion (an additional 190,500 ETH, bringing the total from 1.52 million to 1.71 million ETH). This marks the second consecutive week we have raised funds from institutional investors at such a pace, as we pursue our goal of holding 5% of the total ETH supply.”