Crypto Investment Products See $3.4 Billion Net Inflows in April
Crypto investment products experienced net inflows of $3.4 billion from April 21-25, marking the largest increase since December and the third-largest weekly total on record, according to a CoinShares report.
Key highlights include:
- Approximately $3.1 billion was allocated to US spot bitcoin ETFs.
- Ethereum ETFs saw $183 million in net inflows, breaking an eight-week outflow trend.
- Investors are turning to digital assets amid concerns over corporate earnings and a weakening US dollar.
- Bitcoin (BTC) is currently trading around $94,130, up 10.5% from the previous week.
- Hedge funds account for about 37% of the total assets under management in spot bitcoin ETPs, with some inflows attributed to basis trading.
- Individual investors and smaller financial advisors also contribute significantly to recent investment activity.
Clarification on XRP-related products: Proposed XRP funds by ProShares are futures-based, not spot. Additionally, CME Group plans to introduce XRP futures contracts starting May 19.