Crypto Investment Inflows Exceed $2 Billion with XRP and Solana Gaining Attention
Global investment in digital asset products surpassed $2 billion last week, marking the third consecutive week of positive inflows. Bitcoin was the main contributor, while altcoins like XRP and Solana gained investor attention.
Key Highlights
- Bitcoin led with $1.84 billion in inflows, bringing its year-to-date total to $5.58 billion.
- Total Assets Under Management (AUM) across digital asset funds reached $156 billion.
- XRP received $10.5 million in inflows, totaling $256 million for the year, trading at $2.14.
- Solana attracted $6 million, increasing its year-to-date total to $80 million, currently priced at $144.78.
- Ethereum saw $149.2 million in inflows, totaling $336 million over two weeks.
- Multi-asset products experienced a $1.9 million decline, contributing to a year-to-date outflow of $136 million.
Geographical Insights
- The US led with $1.92 billion in inflows, followed by Germany ($47 million), Switzerland ($34 million), and Canada ($20 million).
- BlackRock iShares Bitcoin Trust saw $2.57 billion enter last week, raising its AUM to $61.9 billion.
- ARK 21Shares Bitcoin ETF reported an outflow of $458 million; Fidelity Wise Origin lost $201 million; Grayscale had a small decline of $31 million.
Investors appear to be diversifying into altcoins, reflecting a shift in sentiment within the digital asset market. The probability of an XRP ETF approval is estimated at 85%, according to Bloomberg analysts.