Inflows into Crypto ETPs Reached $2.2B Last Week

According to a recent report, the cryptocurrency market experienced a significant increase in ETP inflows last week, reaching a record high of $2.2 billion.

This surge can be attributed to Bitcoin’s 15% price increase during the same period, driving the total assets under management in crypto ETPs to a new peak of $171 billion.

Trading volumes for these products also remained strong at $21 billion, representing 34% of total Bitcoin trading on reputable platforms. Bitcoin ETPs were the main source of inflows, contributing $1.9 billion and bringing their year-to-date total to $2.7 billion.

Interestingly, even though Bitcoin’s price was on the rise, there were minor outflows of $0.5 million in short Bitcoin positions, deviating from typical patterns.

ETPs based on Ethereum saw a small increase of $246 million in inflows, offsetting previous outflows earlier this year. However, Ethereum products still have the lowest performance, with a net outflow of $28 million since January.