Crypto investment products saw inflows of $3.2 billion last week, for tenth consecutive week, primarily driven by Bitcoin (BTC) and Ethereum (ETH).
By Bhushan Akolkar
Edited by Julia Sakovich
Updated
3 mins read
Crypto investment products registered net inflows for the tenth consecutive week with Bitcoin BTC $105 211 24h volatility: 0.1% Market cap: $2.08 T Vol. 24h: $20.14 B , and Ethereum ETH $3 344 24h volatility: 0.3% Market cap: $402.88 B Vol. 24h: $12.66 B dominating a major of the inflows. On the other hand, inflows into XRP also picked up pace amid the rising speculation of an XRP ETF approval.
In its latest report, crypto investment firm CoinShares reported that digital asset investment products saw inflows worth $3.2 billion in the week between December 9–13.
This comes after a record $3.85 billion in weekly inflows during the previous period, pushing total inflows for 2024 to $44.5 billion. Also, the achievement follows a streak of consecutive weekly inflows since early October, with the past 10 weeks contributing $20.3 billion, making up 45% of the total inflows for the year.
During the last week, the Bitcoin investment products saw inflows totaling $2 billion. Thus, the net inflows into Bitcoin products since Donald Trump’s victory have surged to $11.5 billion. BlackRock’s iShares Bitcoin Trust (IBIT) also contributed majorly to net inflows last week.
Short BTC products experienced a surge in activity, with $14.6 million in inflows, up from the previous week. However, total assets under management for short BTC exchange-traded products (ETPs) remained relatively low at $130 million, noted CoinShares’ head of research James Butterfill.
Similarly, Ethereum (ETH) was the second-largest crypto after Bitcoin, to see successful inflows last week. During the week between December 9-16, Ethereum ETF investments saw over $1 billion in inflows last week.
Ethereum ETPs have maintained their momentum, with new inflows marking the seventh consecutive week of gains. Over this period, various Ether-based ETPs saw a total of $3.7 billion in inflows.
CoinShares reports that altcoin XRP experienced inflows of $145 million, fueled by growing optimism for a US-listed ETF. Following Donald Trumpp’s victory, the expectations for an XRP ETF have surged with analysts predicting a quick settlement in the Ripple vs SEC lawsuit. Top market players like WisdomTree have also jumped in to file an XRP ETF.
Over the last weekend, some reports suggested BlackRock could be filing an application for XRP ETF, suggesting that it could inject substantial liquidity into the market. This shift could pave the way for ETF applications for other cryptocurrencies, such as Cardano and Dogecoin, further enhancing investor confidence and interest in these assets.
The XRP price has been flirting around the resistance of $2.4 for the past week, eyeing a breakout to $3. However, the inflows suggest growing confidence among market players for the fourth-largest crypto.
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.