Bitcoin ETFs Bleed $1.2 Billion
US Bitcoin ETFs see $1.2 billion in withdrawals, marking a tough week for the market.
U.Today1 min read
US and Germany Keep Leading as XRP Records 70% Jump in 7-Day ETF Inflows Worldwide
TL;DR
XRP investment products saw a 70% increase in inflows, reaching $67.6 million in one week. This surge occurred amid significant outflows from Bitcoin and Ethereum, particularly from U.S. investors.
Key points
- XRP investment products recorded $67.6 million in inflows
- This marks a 70% increase from the previous week's $39.6 million
- U.S. spot XRP ETFs attracted $60.50 million of the inflows
Mentioned in this story
CoinShares
Investment products tied to XRP recorded a major acceleration in capital inflows amid a large-scale rotation out of heavyweight assets like Bitcoin and Ethereum. According to fresh data from CoinShares, global XRP-based products saw inflows surge to $67.6 million over the past week - a 70% increase compared to the previous week's $39.6 million.
At first glance, the regional breakdown created the illusion that Europe had completely overshadowed the United States. Indeed, amid geopolitical tensions in the Middle East, U.S. investors aggressively reduced risk exposure, resulting in a massive net outflow of $1.1403 billion from the country.
Bitcoin lost $981.5 million, while Ethereum saw $249.3 million exit the market.
US investors flee Bitcoin but drive a 70% surge in XRP
Still, as more precise local data from SoSoValue shows, US investors have not lost confidence in the crypto market as a whole. In fact, the overwhelming majority of the global $67.6 million inflow came from U.S. spot XRP ETFs alone, which attracted $60.50 million.
European ETPs and other regions accounted for just over $7.1 million. Nevertheless, momentum there also accelerated, as the same figure stood at $5.39 million a week earlier.
Volume 286: Digital Asset Fund Flows Weekly Report, Source: CoinShares
Thus, while European regions such as Switzerland (+$22.8 million) and Germany (+$22 million) demonstrated stable and broad-based interest across multiple digital assets, US investors acted aggressively and selectively, choosing XRP as the primary defensive instrument of the week.
Q&A
What caused the 70% increase in XRP inflows?
The increase in XRP inflows was driven by a large-scale rotation out of Bitcoin and Ethereum, with U.S. spot XRP ETFs attracting the majority of the funds.
How much did U.S. investors contribute to XRP ETF inflows?
U.S. investors contributed $60.50 million to the total $67.6 million in XRP ETF inflows over the past week.
What were the overall trends in cryptocurrency investment last week?
Last week, there was a significant net outflow of $1.1403 billion from U.S. investors, primarily from Bitcoin and Ethereum, while XRP saw a notable inflow.
