Crypto Investment Products See $4.9 Billion in Inflows
- Investment products recorded their sixth consecutive week of inflows, totaling $4.9 billion.
- Bitcoin (BTC) led the inflows with $706 million, bringing year-to-date flows to $4.9 billion.
- Short-Bitcoin ETPs experienced the largest outflow of the year at $14 million, indicating reduced bearish sentiment.
- Ether (ETH) ETFs saw a reversal with $77 million in inflows after an outflow of $81 million the previous week.
- Total assets under management in crypto ETPs surpassed $160 billion, the highest since February.
Despite positive trends, Bitcoin briefly dipped below $80,000 last week amid late-week profit-taking and significant outflows from US-listed spot Bitcoin exchange-traded funds totaling $423 million on Thursday and Friday.
The recent inflow trend highlights growing investor confidence as Bitcoin’s year-to-date inflows reach $4.9 billion, while short-Bitcoin funds see increased withdrawals.(Source)
