Cryptocurrency investment products recorded another week of strong inflows, driven by ceasefire optimism and a Bitcoin price breakout that boosted investor sentiment.
Crypto exchange-traded products (ETPs) posted $1.4 billion in inflows last week, beating the prior week’s $1.1 billion and marking the second-largest weekly inflow since January, CoinShares reported on Monday.
After a three-week inflow streak totaling $2.7 billion, crypto ETPs now have net year-to-date inflows of approximately $3.8 billion. Assets under management (AUM) have reached $154.8 billion, the highest level since early February, after falling to $128 billion in March.
The increase in crypto fund inflows has likely been driven by renewed risk appetite following US-Iran ceasefire extension talks, according to CoinShares head of research James Butterfill.
Sentiment was further reinforced by Bitcoin approaching $78,000 on Friday, according to CoinGecko.
Bitcoin led last week’s ETP gains, with inflows totalling $1.12 billion. Year-to-date inflows reached $3 billion, with AUM at $123 billion.
Most gains came from US spot Bitcoin exchange-traded funds (ETFs), which posted $1 billion in inflows last week.
Ether investment products also saw $328 million in inflows, marking their strongest week since January and bringing year-to-date inflows to $197 million.
However, altcoin ETPs, including XRP and Solana, recorded negative flows. XRP led outflows at $56 million, while Solana saw minor outflows of $2.3 million.
Short-Bitcoin products saw modest inflows of $1.4 million, indicating residual but limited hedging demand.
Regionally, the US led with $1.5 billion in inflows, while Germany ranked second with $28 million. Switzerland experienced the largest redemptions last week, with outflows totalling $138 million.
Source: X.com
Stay informed with the latest trends in Web3, blockchain innovation, and cybersecurity updates at 3verseTV
You need to login in order to Like
Leave a comment