Crypto Funds Rebound After A Tough November
After enduring a brutal month of outflows totaling $5.7 two months ago, cryptocurrency exchange-traded products (ETPs) are finally showing signs of recovery. Data from CoinShares reveals that digital asset ETPs saw inflows of over $1.07 billion in a single week. This marks a substantial reversal following consecutive weeks of losses.
Bitcoin, Ethereum, and XRP Bolster Market Sentiment
Leading the charge in inflows were Bitcoin, Ethereum, and XRP funds. Bitcoin ETFs attracted $464 million, while Ethereum recorded that week saw $309 million. Notably, XRP had its largest weekly inflow ever at $289 million, driven largely by new U.S. ETF launches. The recovery in these funds is a sign of renewed investor interest despite the volatility of digital assets.
The strong performance of these three cryptocurrencies managed to claw back investor confidence. XRP, for instance, has now experienced a six-week streak of inflows, which accounts for approximately 29% of its total assets under management. This is a significant milestone for the cryptocurrency as it gains traction in regulated markets.
Global Trends in Fund Flows
The United States spearheaded these positive flows with $994 million last that data made notable down of loses.
