BTC and XRP Dominate Crypto Inflows as Ethereum Faces Sell-Off
CoinShares' weekly update reveals that digital asset investment products experienced $48 million in inflows over the past week, despite a complex market environment influenced by macroeconomic developments.
The report notes that this is a mixed bag, with an initial influx of nearly $1 billion in the first days of the week, followed by a substantial $940 million outflow triggered by macroeconomic data releases and the US Federal Reserve's minutes suggesting a robust US economy and a hawkish monetary stance.
BTC continues to lead in attracting investments, securing $214 million in inflows last week. Despite enduring subsequent outflows, it remains the top-performing asset year-to-date, with total inflows reaching $799 million.
Ethereum registered significant outflows totaling $256 million, attributed by Butterfill to a broader sell-off impacting the technology sector, rather than inherent network issues.