XRP saw its first weekly outflow in 80 weeks as the global crypto investment products extended their inflow streak to six weeks.
Investors have again shown keen interest in cryptocurrencies and investment vehicles tracking the sector. Last week’s stellar Bitcoin and crypto price performance attracted massive inflows into digital asset investment products and extended their positive streak.
Specifically, a CoinShares Monday report shows that the crypto products globally recorded a net inflow of $3.3 billion the previous week. This ensured a six-week consecutive inflow, bringing the total inflow to $10.8 billion year-to-date and a record $187.5 billion in assets under management (AUM).
Meanwhile, the global cryptocurrency market cap grew 6% in the previous week to $3.5 trillion, driven by an altcoin resurgence and Bitcoin’s rally to price discovery. The pioneering cryptocurrency reached a new all-time high of $112,000 on May 22, extending recent bullish momentum.
Crypto Inflow Details
Bitcoin led inflows into crypto investment vehicles as the US spot exchange-traded funds amassed staggering amounts last week. Bitcoin funds saw a net weekly inflow of $2.98 billion, pushing month-to-date and year-to-date to $5.49 billion and $10.2 billion, respectively.
Meanwhile, Ethereum-based funds recorded a 15-week high net inflow of $326.2 million, as sentiments around the asset continue to improve. Solana and SUI products also saw net positive flows of $4.3 million and $2.9 million, with short Bitcoin attracting $12.7 million, its largest since December 2024.
However, investment vehicles tracking XRP, the fourth-largest cryptocurrency by market cap, saw their first outflow in 80 weeks. They saw a $37.2 million outflow last week, their highest on record, as investors fled from the asset amid its consolidation.
Meanwhile, BlackRock’s iShares Bitcoin Trust (IBIT) dominated proceedings for issuers. It saw a net inflow of $2.56 billion, with one of its daily performances last week beating the Vanguard S&P 500 ETF (VOO) for the first time.
The Fidelity Wise Origin Bitcoin Trust (FBTC) followed IBIT, attracting $210 million. Other funds, such as Ark Investments’ and Bitwise’s US Bitcoin ETFs, recorded net weekly inflows of $101 million and $48 million, respectively.
The US Leads Inflow by Region
By geographical distribution, the United States commanded the largest inflow with its $3.3 billion weekly positive flow. The US accounted for 98% of flows, while Germany, Hong Kong, and Australia provided the others.
Germany-based crypto funds attracted $41.5 million, Hong Kong $33.3 million, and Australia $10.9 million. Notably, this compensated for outflows from Switzerland, Sweden, and Brazil.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
