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- Crypto investment products saw $1.35 billion in inflows last week, bringing the three-week total to $3.2 billion.
- Bitcoin led the way with $1.27 billion in inflows, while short-bitcoin ETPs continued to see outflows.
- Ethereum and Solana also saw positive inflows, but blockchain equities faced $8.5 million in outflows.
Crypto investment products saw massive inflows last week, pulling in $1.35 billion, per the latest data from CoinShares. This brings the three-week total to an impressive $3.2 billion.
Exchange-traded product (ETP) trading volumes also shot up by 45% compared to the previous week, reaching $12.9 billion. Despite this surge, ETPs only accounted for 22% of the total crypto market volume, which is lower than usual.
Bitcoin’s big week
Bitcoin was the star of the show, pulling in $1.27 billion in inflows last week. On the other side, short-bitcoin ETPs saw outflows of $1.9 million, continuing a trend that has seen $44 million in outflows since March.
This outflow is 56% of assets under management (AUM) for short-bitcoin products. Ethereum also saw positive momentum, with $45 million in inflows last week. This brings Ethereum’s YTD inflows to $103 million, overtaking Solana.
Solana did manage to pull in $9.6 million last week, bringing its YTD inflows to $71 million. Litecoin was another altcoin that saw decent activity, with $2.2 million in inflows.
But blockchain equities had a rough week, as they saw outflows of $8.5 million even as most ETFs outperforming world equity indices, said CoinShares.
Last week, from July 15 to July 19, Bitcoin spot ETFs had a net inflow of $1.24 billion. This marked 11 consecutive days of net inflows.
Grayscale’s GBTC ETF, however, saw a net outflow of $56.12 million. BlackRock’s IBIT ETF had a net inflow of $707 million, and Fidelity’s FBTC ETF saw $244 million in net inflows.
Related: JPMorgan thinks a bullish reversal is impossible for crypto market
Regionally, the inflows and outflows were mixed. The US led the pack with $1.3 billion in inflows, followed by Switzerland with $66 million.
However, Brazil and Hong Kong did not fare as well. Brazil saw outflows of $5.2 million, while Hong Kong had $1.9 million in outflows.
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Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Jai Hamid
Jai Hamid has been covering crypto, stock markets, technology, the global economy, and the geopolitical events that affect markets for the past 6 years. She has worked with blockchain-focused publications including AMB Crypto, Coin Edition, and CryptoTale on market analyses, major companies, regulation, and macroeconomic trends. She has attended London School of Journalism and thrice shared crypto market insights on one of Africa’s top TV networks.
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