Crypto funds post $1.9B inflows as Ether leads weekly gains
Main Idea
Cryptocurrency investment products saw $1.9 billion in inflows last week, with Ether ETPs leading the gains, while Bitcoin ETPs experienced minor outflows.
Key Points
1. Global crypto ETPs recorded $1.9 billion in inflows for the week, bringing year-to-date inflows to $29.5 billion and total AUM to $221.4 billion.
2. Ether investment products drove the majority of inflows with $1.59 billion, marking the second-largest weekly inflow on record.
3. Solana and XRP ETPs also saw significant inflows of $311.5 million and $189.6 million, respectively.
4. Bitcoin ETPs experienced minor outflows of $175 million, ending a 12-day inflow streak.
5. CoinShares' head of research suggested altcoin inflows may be driven by anticipation of potential US ETF launches rather than broad-based enthusiasm.
Description
Although Bitcoin ETPs saw losses against altcoin funds last week, the trend probably implied the anticipation of ETFs rather than a broad altcoin season, CoinShares’ head of research said.
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