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    Crypto ETPs Experience Growth Amid Bitcoin and XRP Inflows: CoinShares

    Ethan CarterBy No Comments2 Mins Read
    Crypto ETPs Experience Growth Amid Bitcoin and XRP Inflows: CoinShares

    Cryptocurrency investment products maintained their upward trend last week, recording two weeks of consecutive gains after significant outflows.

    Crypto exchange-traded products (ETPs) saw inflows of $716 million, building on the previous week’s $1 billion gains, as reported by European crypto asset manager CoinShares on Monday.

    “Daily data indicated minor outflows on Thursday and Friday, likely in response to macroeconomic data from the US suggesting ongoing inflationary pressures,” stated CoinShares’ head of research, James Butterfill, in the update.

    The new inflows pushed total assets under management (AUM) above $180 billion, marking an 8% recovery from the lows in November after $5.5 billion in outflows over four weeks. Nevertheless, AUM remained significantly below its all-time peak of $264 billion, Butterfill pointed out.

    Bitcoin leads inflows, Chainlink records significant inflow

    Bitcoin (BTC) topped the crypto ETP gains last week, attracting $352 million in inflows, followed by XRP (XRP) funds which brought in $244 million.

    Chainlink (LINK) distinguished itself with a record inflow of $52.8 million, representing 54% of its AUM.

    019afd75 e555 74e7 a41d b73ed55751a5
    Weekly crypto ETP flows by asset as of Friday (in millions of US dollars). Source: CoinShares

    Ether (ETH) funds experienced minor inflows of $39 million, while short Bitcoin ETPs faced outflows of around $19 million, potentially signaling a reduction in negative sentiment.

    ProShares leads inflows, while BlackRock’s iShares see outflows

    Among issuers, ProShares topped inflows with $210 million, while BlackRock — the largest issuer by AUM — suffered $105 million in outflows.

    Cathie Wood’s ARK and Grayscale Investments also encountered outflows, reporting $78 million and $7 million, respectively, last week.

    Stocks, Inflation, CoinShares, Ethereum ETF, Bitcoin ETF, ETF
    Weekly crypto ETP flows by issuer as of Friday (in millions of US dollars). Source: CoinShares

    Geographically, the majority of regions globally experienced inflows, most notably the US, Germany, and Canada, which saw inflows of $483 million, $97 million, and $80.7 million, respectively.

    Related: Sweden aims to enter the Bitcoin ‘digital arms race’

    Sweden recorded $5.6 million in outflows last week, bringing its year-to-date outflows to $836 million, leading global outflows.