Crypto ETPs Experience Significant Inflows, Led by XRP
- Cryptocurrency investment products attracted approximately $1 billion in inflows, ending a four-week losing streak.
- Bitcoin (BTC) led the inflows with $464 million, followed by Ether (ETH) at $309 million and XRP (XRP) at $289 million.
- Despite recent gains, Bitcoin and Ether recorded monthly outflows of $2.8 billion and $1.4 billion, respectively.
- The surge in XRP is attributed to new US exchange-traded funds (ETFs), including Canary Capital’s XRP ETF launched mid-November.
- The United States accounted for nearly all inflows during a week marked by subdued trading due to Thanksgiving.
The recovery in crypto ETPs aligns with broader market gains, as Bitcoin briefly surpassed $90,000 before retreating below $86,000 on Monday. This rebound reflects shifting investor sentiment following comments from FOMC member John Williams regarding monetary policy.
Overall, the return of nearly $1 billion in inflows highlights renewed interest in cryptocurrency assets like XRP, despite ongoing challenges faced by Bitcoin and Ether this month.(Source)
