XRP News Today: Crypto ETPs See $1.9 Billion Inflows as Bitcoin Surges to $110,000

Cryptocurrency investment products continued their multi-week inflow streak as Bitcoin traded close to new highs and Ether briefly surged past $2,800 for the first time since February. Global crypto exchange-traded products (ETPs) recorded $1.9 billion of inflows in the trading week ended Friday, moving a nine-week streak of inflows to $12.9 billion. With the new inflows, crypto ETPs set a historic record of year-to-date (YTD) inflows of $13.2 billion. Total assets under management (AUM) in crypto ETPs edged up to $179 billion from last week’s $175.9 billion.

Bitcoin investment products recovered to see significant gains, topping the chart last week with $1.3 billion of inflows. Short-Bitcoin products also recorded modest inflows of $3.7 million, though their AUM remained low at $96 million. Ether (ETH) ETPs ranked second in inflows, maintaining their positive trend with a further $583 million in inflows last week. The inflows marked ETH product’s largest gains since February, including their strongest single-day inflows. Following a three-week run of outflows, XRP (XRP) investment products saw $11.8 million in inflows last week, while Sui (SUI) products saw a further $3.5 million in inflows.

BlackRock’s iShares exchange-traded funds (ETFs) led the gains among issuers last week with $1.5 billion of inflows, pushing YTD inflows past $14.2 billion. All US-issued crypto ETFs followed with minor weekly inflows of up to $95 million, while the European fund, CoinShares XBT Provider, posted minor outflows of $17 million. Although crypto funds have seen a nine-week run of inflows, almost all the issuers are still seeing YTD outflows, with Grayscale leading the losses with more than $1.6 billion of outflows. US issuer ProShares is the only issuer seeing no YTD outflows, with inflows totaling $437 million YTD.

The surge in inflows to $1.9 billion during the trading week ending June 13 highlights the growing investor confidence in cryptocurrencies, particularly Bitcoin, which rebounded to $110,000. This price surge not only attracted significant investments but also underscored the increasing legitimacy and acceptance of digital assets as a viable investment option. The record year-to-date inflow of $13.2 billion for crypto ETPs reflects the robust demand from both institutional and retail investors, driven by the potential for high returns and the growing legitimacy of cryptocurrencies. The sustained inflow of capital into crypto funds indicates a broader trend of investors seeking exposure to the cryptocurrency market, further solidifying its position in the global financial landscape.