Crypto funds log second week of inflows after massive $5.5B sell-off
Bitcoin led the $716 million of inflows to crypto ETPs last week, while Chainlink saw record gains, accounting for more than 50% of its AUM.
Cryptocurrency investment products maintained upward momentum last week, logging two consecutive weeks of gains following substantial outflows.
Crypto exchange-traded products (ETPs) attracted $716 million in inflows, adding to the previous week’s gains of $1 billion, European crypto asset manager CoinShares reported on Monday.
“Daily data highlighted minor outflows on Thursday and Friday in what we believe was a response to macroeconomic data in the US alluding to ongoing inflationary pressures,” CoinShares’ head of research, James Butterfill, said in the update.