Crypto Market Roars Back with $572 Million Surge

Key Points

1. Investment products from major asset managers like BlackRock, Fidelity, and Grayscale contributed to the $572 million net inflows, reversing an early-week $1 billion outflow.

2. A U.S. government announcement allowing cryptocurrencies in 401(k) retirement plans spurred a $1.57 billion influx in the latter half of the week.

3. The U.S. led regional inflows with $608 million, while Europe saw a net outflow of $54.3 million from Germany, Sweden, and Switzerland.

4. Ethereum-based products dominated with $268 million in net inflows as Ether surpassed $4,000, while Bitcoin products ended a two-week outflow streak with $260 million in inflows.

5. Altcoins like Solana, XRP, and Cardano also saw inflows, with Solana attracting $21.8 million.