ETH Products Outperform BTC, While XRP Sees New Record: CoinShares | BinanX News

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

On the other hand, altcoins mainly attracted inflows, including Ripple’s XRP.

According to the latest CoinShares reportEthereum recorded inflows totaling $634 million, reflecting a dramatic shift in sentiment that has taken its year-to-date inflows to $2.2 billion, surpassing its 2021 record of $2 billion.

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

XRP was closely followed by Cardano and Chainlink, with $0.9 million and $0.8 million in inflows, respectively. Litecoin, however, recorded a modest inflows of $0.2 million during this period. Meanwhile, multi-asset products and Solana saw outflows of $16.3 million and $3.8 million, respectively.

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

Although US ETFs have begun offering options, despite high initial volumes, ETP volumes have not seen a similar increase, totaling $22 billion last week compared to $34 billion for the previous week.

Capital inflows this year have reached a record $37.3 billion.

Regionally, the United States dominated with inflows of $266 million, while Hong Kong and Germany also recorded notable inflows 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 with $26.2 million, followed by Sweden and Canada with $16.6 million and $10 million in outflows, respectively. Brazil also recorded a small outflow of $3.8 million during the same period.