XRP Shocks The Market: Surges Ahead While Bitcoin & Ethereum Bleed
This brings total outflows since early February to a staggering $7.2 billion effectively erasing year-to-date inflows, which now stand at just $165 million.
Tariff Concerns Drive Investor Exodus
CoinShares Head of Research James Butterfill attributed the continued drawdown to negative sentiment surrounding U.S. President Donald Trumps recent tariff actions, which have cast a shadow over global markets including crypto. However, Butterfill noted a glimmer of relief late in the week, as a price rebound lifted total assets under management (AUM) from a multi-month low of $120 billion on April 8 to $130 billion, marking an 8% recovery.
President Trumps temporary reversal of economically calamitous tariffs helped spark the rebound though notably, China was excluded from the reprieve, Butterfill wrote.
Bitcoin Leads Outflows Despite Price Rebound
Bitcoin investment products were the hardest hit, with $751 million in net outflows. Despite this, year-to-date inflows for BTC still sit at $545 million. Interestingly, short-Bitcoin products also recorded $4.6 million in outflows, suggesting investors are not increasing bearish bets.
Bitcoin prices dipped below $75,000 early last week but rebounded sharply, trading above $84,000 by Friday. The GMCI 30 index, tracking major cryptocurrencies, gained 13% over the same period.
XRP is doing better than biggest crypto tokens
Ethereum-based products posted the second-largest net outflows globally, with $37.6 million withdrawn. U.S. spot ETH ETFs led the downturn with $82.5 million in outflows, offsetting limited gains from international markets.
Solana, Aave, and Sui products also recorded small net outflows, while investment vehicles tied to XRP, Ondo, Algorand, and Avalanche managed to attract minor inflows.
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