Cryptocurrency investment products recorded an influx of $2 billion recently, according to CoinShares, a well-known European investment firm. Over the last three weeks, global cryptocurrency exchange-traded products (ETPs) saw inflows of $5.5 billion, marking a significant trend in the market.
The total assets under management (AUM) in worldwide crypto ETPs increased by 3.3%, climbing from $151 billion to $156 billion. This is despite the fact that last week's inflows were 41% lower than the $3.4 billion seen the previous week, which was among the highest on record.
During this period, Bitcoin experienced brief gains, its value rising from roughly $94,300 on April 28 to a high of over $97,000 by May 2, according to CoinGecko data. Bitcoin ETPs attracted $1.8 billion in inflows, though this was a 43% decrease compared to the previous week. Interestingly, there was a 300% increase in short Bitcoin ETP inflows, reaching $6.4 million.
Ethereum and XRP also saw interest, with ETP inflows of $149 million and $10 million, respectively. BlackRock’s iShares products led the inflow charts, with $2.7 billion recorded last week. Meanwhile, ARK Invest and Fidelity faced outflows amounting to $458 million and $201 million, respectively.
For the average crypto investor, these movements suggest a healthy interest in cryptocurrencies, particularly in Bitcoin, which accounted for the bulk of the year's ETP inflows so far. This signals potential bullish sentiment in the market.
Looking ahead, investors may wish to keep an eye on Bitcoin's performance and the significant role of large institutional players in influencing market trends.
The total assets under management (AUM) in worldwide crypto ETPs increased by 3.3%, climbing from $151 billion to $156 billion. This is despite the fact that last week's inflows were 41% lower than the $3.4 billion seen the previous week, which was among the highest on record.
During this period, Bitcoin experienced brief gains, its value rising from roughly $94,300 on April 28 to a high of over $97,000 by May 2, according to CoinGecko data. Bitcoin ETPs attracted $1.8 billion in inflows, though this was a 43% decrease compared to the previous week. Interestingly, there was a 300% increase in short Bitcoin ETP inflows, reaching $6.4 million.
Ethereum and XRP also saw interest, with ETP inflows of $149 million and $10 million, respectively. BlackRock’s iShares products led the inflow charts, with $2.7 billion recorded last week. Meanwhile, ARK Invest and Fidelity faced outflows amounting to $458 million and $201 million, respectively.
For the average crypto investor, these movements suggest a healthy interest in cryptocurrencies, particularly in Bitcoin, which accounted for the bulk of the year's ETP inflows so far. This signals potential bullish sentiment in the market.
Looking ahead, investors may wish to keep an eye on Bitcoin's performance and the significant role of large institutional players in influencing market trends.
