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.
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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.
