Global crypto ETPs log $716 million in weekly inflows

Global crypto ETPs log $716 million in weekly inflows - GNcrypto

Global crypto investment products recorded $716 million in inflows last week. This is the second straight week of positive momentum, suggesting that bearish sentiment among investors may be easing. Short bitcoin ETPs, meanwhile, continued to post outflows.

CoinShares reports that most inflows arrived early in the week. Investors then grew more cautious, with small outflows on Thursday and Friday as US macro data pointed to persistent inflation pressures.

Rising crypto prices accompanied the inflows: bitcoin gained 6% over the week to trade near $91,851, while ether rose 11.2% to $3,157. Total assets under management in crypto funds increased to $180 billion, still below the $264 billion all-time high.

Almost every region saw inflows. The US led with $483 million, followed by Germany ($96.9 million) and Canada ($80.7 million). Bitcoin products remained the main driver, attracting $352 million and pushing year-to-date inflows to $27 billion.

Which countries lead in crypto product inflows — GNcrypto
Flows of crypto investment products by region. Source: researchblog.coinshares.com

Short-bitcoin ETPs posted their largest weekly outflow since March at $18.7 million, which analysts say may signal that bearish sentiment has hit a local bottom.

US spot bitcoin ETFs, however, moved in the opposite direction, recording $87.7 million in outflows — most of it from Ark Invest and 21Shares’ ARKB, which saw $77.8 million in redemptions.

Ether products drew $39.1 million in inflows, but US spot ether ETFs posted $65.4 million in outflows, offset by gains in other regions.

XRP products saw strong inflows of $245 million for the week, bringing the yearly total to $3.1 billion. Chainlink products also recorded a standout performance, attracting $52.8 million, driven largely by Grayscale’s GLNK ETF, which brought in $48.3 million.

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