Digital asset investment products saw a resurgence last week, attracting $2.48 billion in inflows after a period of outflows. Ethereum led with $1.4 billion in inflows, pushing August’s total to $4.37 billion. Altcoins like Solana and XRP gained momentum on optimism over potential U.S. ETF launches.

Despite the strong showing, momentum slowed on Friday due to Core PCE inflation data, which tempered hopes of a Federal Reserve rate cut in September. The core PCE index showed a 2.9% annualized rise in July, the highest since February.

The news, combined with recent price pressure, caused a dip in sentiment and trimmed total assets under management by 10% to $219 billion. The U.S. led with $2.29 billion in inflows, with Switzerland, Germany, and Canada also posting gains.

Ethereum continued to outperform, attracting $1.4 billion in inflows last week. Altcoins like Solana and XRP gained traction on expectations of U.S.-based ETFs. The SEC is currently reviewing 92 crypto ETF applications, with many facing final decisions by October.

The wave of new applications signals growing interest in altcoin-focused ETFs, potentially sparking fresh capital inflows into the crypto market. Solana and XRP lead the ETF race, with numerous pending applications, making them sought-after investments after Bitcoin and Ethereum.

Read more at Yahoo Finance: Crypto Investment Products See $2.48B Weekly Inflows, Pushing August Total to $4.37B