ETH products outpace BTC, while XRP sees new record high – CoinShares

Bitcoin saw $457 million in outflows last week, marking the first significant withdrawals since early September. CoinShares interpreted this figure as profit-taking after BTC tested the key psychological level of $100,000. Short-Bitcoin products experienced a modest inflow of $0.5 million over the past week.

On the other hand, altcoins mostly attracted entries, including Ripple’s XRP.

According to the latest CoinShares report, Ethereum saw inflows totaling $634 million, reflecting a dramatic shift in sentiment that has brought its year-to-date inflows to $2.2 billion, surpassing its record of 2021 of 2 billion dollars.

XRP saw inflows of $95 million, the largest on record, likely due to the hype surrounding the potential launch of a US ETF.

Close behind XRP were Cardano and Chainlink, with $0.9 million and $0.8 million in inflows, respectively. Litecoin, however, saw a modest $0.2 million in inflows during that period. Meanwhile, multi-asset products and Solana saw outflows of $16.3 million and $3.8 million, respectively.

Narrowing in, digital asset investment products attracted a total of $270 million in inflows last week, revealing an unusual contrast in asset flows within the class.

While U.S. ETFs began offering options, despite high initial volumes, ETP volumes have not seen a similar increase, totaling $22 billion last week compared to $34 billion in the previous one

This year’s receipts have reached a record $37.3 billion.

Regionally, the US dominated with $266 million in box office receipts, while Hong Kong and Germany also recorded notable box office receipts of $38.7 million and $12.3 million respectively. Australia also saw inflows of $9.5 million last week.

Meanwhile, Switzerland had the largest outflows at $26.2 million, followed by Sweden and Canada with $16.6 million and $10 million in outflows, respectively. Brazil also recorded a smaller outflow of $3.8 million during the same period.

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