- Cryptocurrency exchange-traded products (ETPs) attracted $921 million in inflows last week.
- Inflows followed a lower-than-expected U.S. inflation report, which raised hopes for further rate cuts.
- Bitcoin ETPs led gains with $931 million in inflows; Ether saw $169 million in outflows.
- Other altcoin ETPs like Solana and XRP showed slower inflows ahead of U.S. ETF launches.
- Total assets under management in crypto funds reached $229 billion, with $48.9 billion added this year.
Cryptocurrency investment products experienced renewed inflows last week as investors responded to a U.S. inflation report below expectations. This report increased optimism about potential future rate reductions.
Crypto exchange-traded products (ETPs) posted $921 million in inflows last week, reversing the previous week’s $513 million outflows. The Consumer Price Index (CPI) rose by 0.3% in September, leading to an annual inflation rate of 3%, both figures falling short of forecasts. This data influenced investor sentiment toward possible further rate cuts.
Bitcoin saw the largest inflows among digital assets, with $931 million entering Bitcoin ETPs last week, nearly offsetting the previous week’s outflows. Ether experienced $169 million in outflows, marking its first weekly decline in five weeks. Despite Ether outflows, leveraged ETPs with double exposure remain in demand.
Other altcoins, including Solana and XRP, recorded slower inflows of $29.4 million and $84.3 million respectively, ahead of upcoming U.S.-based ETF launches. Solana ETP inflows notably dropped over 81% from the prior week. Since the U.S. Federal Reserve began rate cuts in September, Bitcoin has accumulated $9.4 billion in inflows.
Year to date, Bitcoin funds have attracted $30.2 billion, approximately 38% less than last year’s total of $41.6 billion. The overall crypto fund market now manages $229 billion in assets, with $48.9 billion in inflows so far this year.
The reported CPI data came from the official U.S. Bureau of Labor Statistics, and detailed fund flow figures are available in the weekly digital asset fund flows report.
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