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XRP Cryptocurrency inflows regain momentum
In the first three trading days of this week, inflows of digital asset investment products reached US$1.65 billion. The previous week's inflow was US$2.94 billion, setting a single-week record this year. Bitcoin led the way with $976 million, while Ethereum attracted $478 million. CoinShares pointed out that there is also a structural change hidden behind the data, related to U.S. power grid restrictions.
Overview of Market Data
The total asset management scale of cryptocurrency exchange-traded products has climbed to approximately US$155 billion. Total industry inflows year-to-date turned positive again, reaching US$3.4 billion. The United States contributed most of the latest inflows, at $1.5 billion, followed by Germany and Switzerland. In addition to mainstream currencies, altcoins have also gained considerable participation. XRP added $80.5 million, Solana received $62.9 million, and Hyperliquid products attracted $39 million. CoinShares emphasized that these data cover the products of all publishers around the world, not just their own products.
Bitcoin itself closed at about $78500 on August 26, after briefly touching $81000 the day before. The asset regained its 200-day moving average for the first time in 270 trading days. CoinShares links renewed investor interest to uncertainty about Fed policy. In July, the core PCE inflation rate rose 0.2% month-on-month and 3.3% year-on-year, both in line with market expectations.
Grid restrictions reshape miners 'economic model
CoinShares 'upcoming mining report focuses on a theme it calls "undervaluation." The agency believes that what currently restricts the construction of data centers in the United States is not funding, but regulatory resistance. Bitcoin miners are at the center of this bottleneck. Data shows that the data center vacancy rate has dropped from 10% in 2019 to about 1% today, and this level has remained at this level for three consecutive years. Nationwide, construction moratoriums and development restrictions on new facilities have reached historical highs.
The total capacity currently waiting to be connected to the power grid totals approximately 2060 GW, while the total existing installed power generation capacity in the United States is approximately 1300 GW. The waiting capacity alone is equivalent to 1.6 times the total existing power generation scale in the country. CoinShares said it currently takes about five years for new facilities to connect to the grid. This timeline gives electrified sites a significant premium to new development projects. Miners now have this infrastructure, and there are no regulatory barriers to switching from mining to artificial intelligence hosting.
CoinShares expects that this development will continue to drive the transfer of miners 'revenue to AI custody contracts. The agency estimates that by the end of this year, artificial intelligence's share of listed miners 'revenue had climbed from about 30% to 70%. It added that this ratio could rise further, depending on how quickly grid capacity is opened up. Federal Reserve Chairman Kevin Walsh will deliver his first keynote speech in Jackson Hole on Friday. CoinShares said the market was watching how he would interpret stubborn inflation signals against the backdrop of weak consumer confidence and new home sales data.
