Cryptocurrency investment products continued their recovery last week, posting a second consecutive week of inflows after significant outflows earlier.
Crypto exchange-traded products (ETPs) saw $716 million in new investments, adding to the previous week’s $1 billion gain, according to European crypto asset manager CoinShares on Monday.
“Daily data showed minor outflows on Thursday and Friday, likely in reaction to US macroeconomic data suggesting persistent inflationary pressures,” said James Butterfill, CoinShares’ head of research.
The recent inflows pushed total assets under management (AUM) above $180 billion, an 8% increase from November lows following $5.5 billion in outflows over four weeks. Still, AUM remains well below its all-time high of $264 billion, Butterfill noted.
Bitcoin leads inflows, Chainlink sees record gains
Bitcoin drove the gains among crypto ETPs last week, drawing $352 million, followed by XRP with $244 million.
Chainlink posted a record inflow of $52.8 million, accounting for 54% of its total AUM.
Ether funds recorded modest inflows of $39 million, while short Bitcoin ETPs saw approximately $19 million in outflows, suggesting a possible easing of bearish sentiment.
ProShares leads inflows, BlackRock’s iShares sees outflows
Among issuers, ProShares led the way with $210 million in inflows, whereas BlackRock — the largest issuer by AUM — experienced $105 million in outflows.
Cathie Wood’s ARK and Grayscale Investments also recorded outflows, totaling $78 million and $7 million, respectively, last week.
On a regional basis, nearly all markets experienced inflows, led by the US with $483 million, Germany with $97 million, and Canada with $80.7 million.
Sweden was an exception, posting $5.6 million in outflows last week, bringing its year-to-date total to $836 million—the largest outflows globally.
