$BTC investment products suffered $13 million of outflows last week, according to CoinSharesCo, breaking the trend of steady inflows since BlackRock’s spot bitcoin ETF filing in mid-June. sndr_krisztian reports
) earlier this month sent BTC’s price to a fresh yearly high, before its price quickly reverted below $30,000. The ruling, however, improved investor confidence in altcoins – alternative crypto assets to BTC – which was underscored by positive fund flows through last week.
ETH-focused investment products enjoyed the largest inflows among all cryptocurrencies, totaling $6.6 million. The growth suggests that “sentiment, which has been poor this year, is beginning to turn around” for the second largest crypto asset, noted James Butterfill, head of research at CoinShares. XRP funds experienced $2.6 million of inflows, totaling $6.8 million, or 8% of all assets under management inflows, over the last 11 weeks. “This implies investors are increasingly confident in the outlook for XRP,” Butterfill said.
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