CoinShares: Crypto Funds See Small Inflows of $6 Million, Market Sentiment Mixed
Blockchain editor
According to data from CoinShares, cryptocurrency exchange-traded products (ETPs) recorded small inflows of $6 million last week, reflecting mixed investor sentiment but showing signs of recovery.
Crypto exchange-traded products (ETPs) showed signs of recovery last week, recording small inflows after more than $1 billion in outflows in the previous two weeks.
CoinShares reported on April 22 that crypto investment products recorded $6 million in inflows between April 14 and 18, reflecting mixed investor sentiment.
"While there were small inflows at the beginning of the week, stronger-than-expected U.S. retail sales data midweek may have triggered an outflow of $146 million," wrote James Butterfill, head of research at CoinShares.
Crypto ETP assets under management (AUM) rose slightly by 1.4% from $129 billion on April 11 to $131 billion on April 18.
All US Bitcoin ETFs are down month-to-date
According to the report, BlackRock’s iShares exchange-traded fund saw the largest inflows of $182 million last week, while crypto ETPs from major issuers such as Fidelity saw outflows of $123 million.
Among US issuers, Bitwise’s crypto investment product (ETP) saw inflows of $24 million, while European issuer 21Shares saw even larger inflows of $37 million.
Despite the small inflows, all US crypto ETP issuers are still in the red month-to-date. Europe-based 21Shares was the only issuer to maintain inflows of $28 million in April.
So far this year, BlackRock’s iShares ETFs have been solid, with inflows of more than $3 billion. Most issuers are in the red, with the exception of Proshares, which saw inflows of $340 million, and Cathie Wood’s ARK, which saw inflows of $19 million year-to-date.
Ripple (XRP) Outperformed with $37.7M Inflows
Asset-wise, Ethereum (ETH) saw the largest ETP outflows among cryptocurrencies last week, totaling $26.7M.
Ripple (XRP) recorded significant inflows of $37.7M, becoming the biggest winner among crypto ETPs.
Bitcoin (BTC) saw a small outflow of $6M, expanding its outflows to $894M in April. The asset still maintains $541M in ETP inflows year-to-date, the largest inflow after Ethereum and XRP, which have recorded inflows of $215M and $214M respectively year-to-date.
