Crypto ETPs Log Record-Breaking Inflows

CN
U.today
Follow
4 hours ago

According to data provided by CoinShares, exchange-traded products (ETPs) recorded a total of $5.95 billion worth of inflows last week.


Bitcoin ETPs alone account for the majority of the aforementioned sum ($3.55 billion). 


Ethereum ETPs come in second place ($1.5 billion) while Solana ETPs come in third place ($706 million). 


HOT Stories BREAKING: Bitcoin Hits New Record High. Will It Reach $130K Soon?Bitcoin Hits All-Time High, XRP Next? Ripple CEO Confirms Next Stage, Shiba Inu (SHIB) Massive Fight Begins — Crypto News DigestMichael Saylor Reveals Key Risks of Bitcoin Strategy Amid $3.9 Billion Fair ValueBig Day for Crypto on Wall Street: Grayscale ETPs Activate ETH, SOL Staking

XRP ETPs also recorded a rather impressive $219 million in total assets. 


The other ETPs have recorded rather negligible inflows. For instance, Cardano ETPs managed to attract only an infinitesimal $0.56 million worth of fresh money despite the fact that ADA is one of the largest coins by market cap. 


Regional breakdown


The US is, of course, in first place with an enormous lead. It attracted virtually all of the aforementioned funds with $5 billion. 


Switzerland comes in an extremely distant second place with $563 million. 


Germany, the EU's biggest economy, rounds up the top 3 with $312 million. 


Canada, a trailblazer in the crypto ETP field, is in fifth place with a total of $32.1 million. 


Hong Kong's ETPs have attracted a relatively modest $5 million worth of fresh funds. 


Major market rally 


CoinShares has named the ongoing U.S. government shutdown as one of the key reasons behind the record-breaking ETP inflows. Investors are piling into crypto due to growing concerns about the government's instability. 


Moreover, the recently released jobs data, which turned out to be surprisingly underwhelming, could end up accelerating the Federal Reserve's rate cuts and boost risk assets. 


As reported by U.Today, Bitcoin rallied above $125,000 for the very first time last week before paring some gains. 


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。

Share To
APP

X

Telegram

Facebook

Reddit

CopyLink