Crypto Investment Products See Renewed Inflows Despite Bitcoin & Ethereum Price Drops

Despite a downturn in the cryptocurrency market, cryptocurrency investment products saw renewed inflows last week, totaling $2.5 billion according to CoinShares data. This comes after a prior week of outflows, marking an overall positive trend for investors despite a dip in price for both Bitcoin and Ethereum. 1.4 billion dollars were withdrawn the previous week, but this week’s inflows exceeded that amount. Bitcoin (BTC), briefly reaching over $113,000, slipped under $108,000 by the end of the week. Ether (ETH), also experiencing a drop, fell below $4,300 after starting the week above $4,600, echoing Bitcoin’s volatility. 2.5 billion dollars was invested in exchange-traded products (ETPs) last week, with Spot Ether ETFs maintaining their dominance, attracting $1.4 billion in inflows. Meanwhile, Bitcoin funds recorded smaller gains of just $748 million. Both Ether and Bitcoin ETFs experienced outflows last Friday, marking the end of a six-day inflow streak for Ether and a four-day streak for Bitcoin. In parallel, Solana (SOL) and XRP (XRP) witnessed inflows of $177 million and $134 million respectively, fueled by optimism surrounding potential US ETF launches.