Ethereum had a strong week with $69 million in capital inflows, attributed to the SEC allowing spot Ether ETFs. Total YTD inflows for Ethereum reached $81 million, with Ethereum-based investment products attracting $2 billion and resulting in a 5-week streak of inflows totaling $4.3 billion. Meanwhile, Bitcoin saw weekly inflows of $1.97 billion, with short-Bitcoin investments experiencing outflows for the third consecutive week.
Altcoins also saw an uptick in activity, with Solana, Litecoin, Chainlink, XRP, and Fantom all experiencing significant inflows. Trading volumes for ETPs increased to almost $13 billion, with inflows observed across various providers and a rise in total assets under management surpassing $100 billion. This change in sentiment is believed to be due to weaker-than-expected macroeconomic data in the US, leading to expectations of monetary policy rate cuts.
The US led global crypto inflows with $1.98 billion, marking the third-largest daily inflow ever recorded. The iShares Bitcoin ETF now has $21 billion in assets under management, surpassing Grayscale. Hong Kong, Canada, and Switzerland also saw significant inflows, while Sweden recorded a weekly outflow of $9.2 million. Overall, the cryptocurrency market has experienced increased investment interest and inflows, driven by positive price movements and changing macroeconomic factors.
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