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Crypto Inflows Hit $864M: BTC, XRP Lead Demand
Digital asset investment products experienced another week of net inflows, with crypto ETPs attracting $864 million over the past week. This marks the third consecutive week of positive flows.
- Total assets under management reached approximately $180 billion, still below the previous peak of $264 billion.
- The US Federal Reserve announced an interest rate cut, but major cryptocurrencies showed mixed price actions.
- Bitcoin led with inflows between $352 million and $522 million. Short-Bitcoin products saw $1.8 million in outflows, indicating investors' confidence in BTC.
- XRP attracted around $245 million in weekly inflows, ranking it among top-performing assets.
- Chainlink recorded $52.8 million in inflows, while Ethereum saw $338 million, increasing its year-to-date total by 148% compared to last year.
- US-based products saw inflows from $483 million to $796 million, followed by Germany ($68 million to $97 million) and Canada ($26 million to $81 million).
- Three countries—US, Germany, and Canada—account for nearly 99% of total year-to-date inflows, highlighting concentrated institutional demand.
Mixed weekly flows were observed across blockchain ETPs:
- VanEck Digital Transformation: $45.8 million inflow
- VanEck Crypto and Blockchain: $20.5 million inflow
- iShares led with over $350 million inflow, followed by Fidelity ($84 million), ProShares ($77.36 million), and Volatility Shares ($162 million).
- Grayscale reported outflows of $12 million weekly and $20 million month-to-date but continues to hold significant assets.
