XRP Shines as Crypto Investment Products Retain Nearly $1B Positive YTD Inflow Despite 5th Consecutive Weekly Outflow
Crypto investment products have extended their outflow week to five amid a broader cautious trend among investors following market uncertainties.Monday's analysis from CoinShares shows that the investment vehicles recorded a net outflow of $1.7 billion last week, their fifth consecutive negative weekly flow. During the 17th successive outflow daythe first since CoinShares started recording in 2015the crypto products have seen a total net outflow of $6.4 billion.These outflows came mainly from the US Bitcoin and Ethereum spot exchange-traded funds (ETFs), which have been on a poor run of form. For perspective, the Bitcoin products recorded a net outflow of $1.28 billion, while Ethereum's saw $166 million.However, despite the outflows, the global digital asset investment products maintain a positive value year-to-date. The vehicles have a net inflow of $912 million since January 1, with a strong outing earlier in the year buffering the recent downsides.Outflow Distribution by AssetA detailed look into last weeks outflows shows that Bitcoin products led the outflows. The assets investment products saw a net outflow of $978 million, taking the monthly tally to $1.73 billion.Ethereum also saw significant capital outflows the previous week, recording a negative flow of $176 million. Despite a monthly outflow of $265 million, the products tracking the performance of the second-largest cryptocurrency by market cap still maintain a year-to-date inflow of $421 million.Meanwhile, despite general market skepticism, XRP seems to be catching the attention of investors. Products tracking the high-caliber asset recorded a net inflow of $1.8 million, taking its monthly total to $7.4 million. Notably, speculations of an imminent end to the case between Ripple and the US Securities and Exchange Commission (SEC) may have spurred this interest.
Text source: The Crypto Basic
