Ether ETP Inflows Suggest Potential Altcoin ETF Anticipation Over Broad Altcoin Season
Main Idea
Ether ETPs led crypto investment inflows with $1.59 billion last week, driven by ETF anticipation, while Bitcoin ETPs saw minor outflows, reflecting a focus on altcoins rather than a broad market surge.
Key Points
1. Ether ETPs attracted $1.59 billion in inflows, marking the second-largest weekly gain ever for Ether-focused funds.
2. Bitcoin ETPs experienced $175 million in outflows, ending a 12-day inflow streak.
3. Global crypto ETPs recorded $1.9 billion in inflows, continuing a 15-week positive trend, with total AUM reaching a record $221.4 billion.
4. Altcoin ETPs like Solana and XRP saw inflows of $311.5 million and $189.6 million, respectively, while Litecoin and Bitcoin Cash had minor outflows.
5. Investor interest in altcoin ETPs is fueled by expectations of potential US ETF approvals, which could further legitimize these assets.
Description
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