Cryptocurrency Investment Products See Renewed Inflows Amid Market Volatility

According to Cointelegraph, cryptocurrency investment products experienced a resurgence in inflows last week, counteracting the previous week's significant outflows of $1.4 billion. Data from CoinShares revealed that crypto exchange-traded products (ETPs) attracted $2.48 billion in inflows, marking a notable recovery in investor interest. Despite the positive inflow trend, Bitcoin (BTC) faced challenges in maintaining its market price. After briefly surpassing $113,000 earlier in the week, Bitcoin's value slipped below $108,000, as reported by CoinGecko. Similarly, Ether (ETH) mirrored Bitcoin's volatility, dropping below $4,300 after starting the week above $4,600. This turbulence in the market did not deter the dominance of spot Ether exchange-traded funds (ETFs), which led the inflows with $1.4 billion, while Bitcoin funds saw smaller gains of $748 million. The inflows last week were significant, especially following the previous week's outflows, yet they remained below the record $4.4 billion inflow observed in July. Both Ether and Bitcoin ETFs experienced outflows last Friday, ending a six-day inflow streak for Ether and a four-day streak for Bitcoin, according to data from SoSoValue. Meanwhile, Solana (SOL) and XRP (XRP) continued to attract investor optimism, likely fueled by the anticipation of potential U.S. ETF launches. Solana recorded inflows of $177 million, and XRP saw $134 million, as per CoinShares data.