Crypto funds see $2.5B inflows despite falling BTC, ETH prices

Cryptocurrency concern products attracted renewed inflows past week, offsetting the anterior week’s $1.4 cardinal outflows.

Crypto exchange-traded products (ETPs) logged $2.48 cardinal successful inflows past week, information from CoinShares showed Monday.

Despite inflows, Bitcoin (BTC) struggled successful presumption of marketplace price, slipping nether $108,000 aft concisely trading supra $113,000 earlier successful the week, according to CoinGecko data.

Ether (ETH) besides tumbled nether $4,300 aft starting the week supra $4,600, echoing Bitcoin’s turbulence.

Spot Ether ETPs clasp dominance

Last week’s inflows were notable pursuing $1.4 cardinal successful outflows the erstwhile week, but remained acold abbreviated of the $4.4 cardinal record acceptable successful July.

Spot Ether exchange-traded funds (ETF) retained marketplace dominance past week, attracting $1.4 cardinal successful inflows, portion Bitcoin funds recorded smaller gains of $748 million.

Daily flows successful spot Bitcoin ETFs versus spot Ether ETFs past week. Source: SoSoValue

Both Ether and Bitcoin ETFs experienced outflows past Friday, ending a six-day inflow streak for Ether and a four-day streak for Bitcoin, according to SoSoValue data.

In the meantime, Solana (SOL) and XRP (XRP) continued to payment from optimism astir imaginable US ETF launches, posting inflows of $177 cardinal and $134 million, respectively, according to CoinShares.

Magazine: XRP ‘cycle target’ is $20, Strategy Bitcoin suit dismissed: Hodler’s Digest, Aug. 24 – 30