Crypto ETPs See $644 Million Inflows, Ending 5-Week Outflow Streak Amid Positive Market Sentiment
This marks the end of a five-week outflow streak, signaling a shift in investor behavior.
James Butterfill, the Head of Research at CoinShares, attributes this shift to a significant rise in market confidence within the digital asset space. He pointed out that crypto ETPs experienced consistent inflows throughout the past week, breaking a 17-day streak of outflows. As a result, the total assets under management (AUM) have climbed 6.3%, reaching $134.5 billion—up from the lowest point observed in mid-March.
A large portion of the momentum behind this recovery can be traced back to Bitcoin, which alone garnered $724 million in new investments. This influx has effectively reversed the trend of the previous weeks, where Bitcoin saw $5.4 billion in outflows. Much of the activity centered on Bitcoin ETFs listed in the US, with BlackRock’s iShares Bitcoin Trust (IBIT) leading the pack with a hefty $464 million in inflows. Following closely were Fidelity’s FBTC and ARK 21Shares, which contributed $136 million and $75 million, respectively.
Interestingly, the shift towards Bitcoin was also mirrored by a decline in short-Bitcoin products, which saw a reduction of $7.1 million, further indicating a positive market outlook. The inflows were dominated by US products, accounting for a large portion of the total at $632 million. However, the optimism was also felt beyond US borders, with Switzerland contributing $15.9 million, Germany adding $13.9 million, and Hong Kong chipping in $1.2 million.
Looking at altcoins, XRP took the lead, attracting $6.7 million in fresh investments. The renewed interest in XRP was sparked by the US Securities and Exchange Commission (SEC) deciding to drop its lawsuit against Ripple Labs, easing the uncertainty around the token. Solana also saw strong performance with $6.4 million in inflows, even as interest in memecoins on the network continued to fade.
This fresh wave of investment is indicative of a broader shift in sentiment towards crypto ETPs, with investors gradually regaining confidence in the market after weeks of subdued activity.
Editorial Team
Reporter at Coindoo
