Crypto ETPs rebound with over $1 billion in weekly inflows prior to latest price slump: CoinShares

Global crypto investment products experienced a significant rebound last week, recording net inflows of $1.07 billion, according to CoinShares data. This followed four consecutive weeks of net outflows totaling $5.7 billion, potentially driven by comments suggesting monetary policy remains restrictive. However, this positive trend preceded a sharp drop in Bitcoin's price early Monday, exacerbated by reports of the Bank of Japan considering rate hikes, and was insufficient to prevent a net outflow of $3.2 billion for the entire month of November.

The U.S. dominated the weekly flows, adding $994 million, with Canada and Switzerland also seeing inflows, while Germany recorded redemptions. Bitcoin ETPs led asset-based flows with $461 million in inflows. U.S. spot Bitcoin ETFs saw $70.1 million in net inflows, largely driven by Fidelity's FBTC. Ethereum products also performed well, netting $308 million globally, with U.S. spot Ethereum ETFs contributing $312.6 million. Notably, XRP-based funds logged a record $289 million in weekly inflows, likely linked to recent U.S. spot ETF launches.

Despite the strong weekly inflow figures, overall trading volumes for crypto ETPs fell sharply to $24 billion last week from $56 billion the prior week, which CoinShares attributed to the U.S. Thanksgiving holiday.

(Source：The Block)