Crypto ETPs snap 4-week slide with $1B inflows as XRP posts its best week
Crypto ETPs saw $1.07 billion in inflows last week, ending a four-week slide, driven by optimism over potential US rate cuts and strong performance from XRP.Summary
Cryptocurrency exchange-traded products (ETPs) reversed a four-week losing streak, attracting $1.07 billion in fresh inflows last week, marking the first weekly gain since late October after four prior weeks of $5.5 billion in outflows. James Butterfill, CoinShares' head of research, attributed this sentiment shift to optimism surrounding potential US interest rate cuts following remarks from FOMC member John Williams. Bitcoin, Ether, and XRP were the top performers in inflows, with Bitcoin leading at $464 million, followed by Ether ($309 million) and XRP ($289 million). Notably, XRP funds recorded nearly $790 million in month-to-date inflows, including its largest weekly inflows on record, which Butterfill linked to recent US ETF launches like Canary Capital’s XRP ETF. Regionally, the United States was the primary driver of inflows with almost $1 billion. Among issuers, Fidelity led with $230 million in inflows.
(Source：Cointelegraph)