Cryptocurrency investment products attracted renewed inflows last week, offsetting the prior week’s $1.4 billion outflows.
Cryptocurrency investment products attracted renewed inflows last week, offsetting the prior week’s $1.4 billion outflows.
Crypto exchange-traded products (ETPs) logged $2.48 billion in inflows last week, data from CoinShares showed Monday.
Despite inflows, Bitcoin (BTC) struggled in terms of market price, slipping under $108,000 after briefly trading above $113,000 earlier in the week, according to CoinGecko data.
Ether (ETH) also tumbled under $4,300 after starting the week above $4,600, echoing Bitcoin’s turbulence.
Spot Ether ETPs retain dominance
Last week’s inflows were notable following $1.4 billion in outflows the previous week, but remained far short of the $4.4 billion record set in July.
Spot Ether exchange-traded funds (ETF) retained market dominance last week, attracting $1.4 billion in inflows, while Bitcoin funds recorded smaller gains of $748 million.
Both Ether and Bitcoin ETFs experienced outflows last Friday, ending a six-day inflow streak for Ether and a four-day streak for Bitcoin, according to SoSoValue data.
In the meantime, Solana (SOL) and XRP (XRP) continued to benefit from optimism around potential US ETF launches, posting inflows of $177 million and $134 million, respectively, according to CoinShares.
Magazine: XRP ‘cycle target’ is $20, Strategy Bitcoin lawsuit dismissed: Hodler’s Digest, Aug. 24 – 30
