Cryptocurrency funds recorded inflows for the second consecutive week last week, continuing the momentum of the previous week's $3.3 billion increase.
CoinShares reported on Monday that cryptocurrency exchange-traded products (ETPs) saw inflows of $1.9 billion last week.
Bitcoin (BTC) and Ethereum (ETH) led the way, with inflows of $977 million and $772 million, respectively, while Solana (SOL) and Ripple (XRP) also performed strongly, with inflows of $127 million and $69 million.
James Butterfill, Head of Research at CoinShares, stated that with the new growth, the total assets under management (AUM) of global cryptocurrency ETPs soared to a new high of $40.4 billion this year.
Bitcoin funds maintained their momentum last week, continuing to attract the largest share of inflows after leading with $2.4 billion the previous week.
According to SoSoValue data, the latest inflows mark the fourth consecutive week of growth for Bitcoin exchange-traded funds (ETFs), totaling $3.9 billion over the four weeks.
In contrast, short Bitcoin ETPs continued to face pressure, with outflows of $3.5 billion, bringing total AUM down to a multi-year low of $8.3 million.
According to CoinShares data, Ethereum ETPs also saw strong investor demand last week, with new inflows pushing the year-to-date total to a record $12.6 billion.
The new inflows into cryptocurrency funds coincided with the U.S. Federal Reserve's decision to cut key U.S. interest rates by 0.25 percentage points last Wednesday, marking the first rate cut of the year.
According to Butterfill from CoinShares, although investors initially remained cautious, the inflows signify a positive response to the rate cut.
"After months of speculation, the U.S. Federal Reserve cut rates last week. Although investors were initially cautious about the so-called 'hawkish rate cut,' inflows resumed later in the week," Butterfill said.
Following the Fed's rate cut, spot cryptocurrency prices experienced slight fluctuations, with Bitcoin's price rising to over $117,000, a multi-week high, according to CoinGecko data.
Ethereum, which opened at around $4,500 earlier in the week, also briefly surged above $4,600 on Thursday.
Despite the strong inflows and rising prices, investor sentiment remained cautious last week, according to the cryptocurrency fear and greed index, which measures overall market sentiment.
According to Alternative.me data, the cryptocurrency fear and greed index remained neutral last week, scoring 53. The index dropped to "fear" on Monday, scoring 45.
Related: Bitcoin (BTC) shows signs of "cycle fatigue," with prices dropping to $112,000.
Original article: “Cryptocurrency funds see $1.9 billion inflows last week, Bitcoin (BTC) ETF continues upward trend”
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
