Spot ETF optimism fuels record eight-week streak of crypto ETP net inflows
Crypto ETPs have recorded their eight consecutive week of inflow, bring the year-to-date metrics to $1.3 billion....
- Market optimism surrounding the potential approval of a spot crypto ETF by the SEC has resulted in eight consecutive weeks of inflows into Exchange-Traded Products (ETPs).
- Last week, crypto investment products attracted inflows totaling $176 million, bringing the year-to-date flows to $1.32 billion.
- ETPs' share of the total crypto volume has significantly increased, accounting for approximately 11%.
- Bitcoin continues to dominate the sector, with BTC investment products seeing $155 million in inflows last week.
- Short Bitcoin experienced its second consecutive week of outflows, shedding $8.5 million.
- Other altcoins such as Solana, Ethereum, and Avalanche saw inflows, while Uniswap and Polygon experienced minor outflows.
- Canada, Germany, and Switzerland contributed the majority of the inflows, while investors in the U.S. remain cautious.
The overall sentiment of the article is positive, as market optimism surrounding the potential approval of a spot crypto ETF has resulted in inflows into ETPs. Bitcoin continues to dominate the sector, and other altcoins have also seen inflows. However, there are cautious investors in the U.S., and Short Bitcoin has experienced outflows.