Crypto Investment Products Attract Over $1.2 Billion in Inflows Last Week
Global digital asset investment products experienced inflows exceeding $1.2 billion last week, marking the tenth consecutive week of positive inflows and bringing year-to-date totals to a record $15.1 billion.
Bitcoin Leads the Way
- Bitcoin attracted $1.1 billion in inflows, totaling $12.7 billion for the year despite recent price pullbacks.
- Ethereum gained $124 million, achieving a total of $2.2 billion in inflows over nine weeks.
- Other assets showed mixed results; Solana, XRP, Cardano, and Chainlink had modest inflows, while Sui, Litecoin, and short Bitcoin products faced outflows.
- A significant $509 million outflow was recorded in lesser-known coins, indicating a shift in investor focus.
- Post-FOMC meeting, Bitcoin's price fluctuated between $104,000 and $110,000, before dropping to $101,442.06, down 5% in 24 hours.
Regional Inflows
- The U.S. led institutional fund inflows with $1.25 billion, followed by Canada at $20.9 million and Germany at $10.9 million.
- Hong Kong saw outflows of $32.6 million, and Switzerland recorded $7.7 million in outflows.
- BlackRock’s iShares Bitcoin Trust topped inflows with $1.28 billion, now holding $74.6 billion in assets under management.
- ProShares and Bitwise saw positive flows, while Fidelity, ARK 21Shares, and CoinShares XBT reported outflows.
Investor interest in Bitcoin and Ethereum remains strong amid geopolitical tensions. Additionally, Norway plans to temporarily ban Bitcoin mining to conserve power, potentially impacting capital allocations.