Crypto ETPs Face Continued Outflows Amid US Market Weakness
- Crypto exchange-traded products (ETPs) experienced over $170 million in outflows for the fourth consecutive week.
- January saw over $1.7 billion in outflows each week, marking the largest since November.
- US markets contributed significantly with $403 million in outflows, while other regions saw $230 million in inflows.
- Bitcoin and Ethereum led negative flows, with Bitcoin seeing $133 million in outflows driven by BlackRock IBIT’s $235 million.
- Altcoins like XRP and Solana showed resilience with inflows of $33.4 million and $31 million, respectively.
The continued outflow from crypto ETPs highlights a challenging period influenced by US market weakness, despite improved sentiment elsewhere globally. Notably, altcoins displayed selective strength amid broader declines.
Investment products faced significant selling pressure, particularly in the US market, although some altcoins attracted fresh capital, indicating investor confidence in specific assets despite general market weaknesses. (Source)
