Get ready for a whirlwind ride through the crypto cosmos! In a thrilling twist of fate, multi-asset products are on a winning streak, raking in a whopping $29 million, marking the 16th straight week of gains. Talk about a hot streak!
But hold on to your hats, because digital asset investment products faced a bit of a hiccup, with minor outflows of $147 million. Why the retreat, you ask? Well, it seems some unexpectedly robust economic data threw a curveball, dampening hopes for hefty interest rate cuts.
Meanwhile, ETP investment product trading volumes took a modest leap, climbing 15% to hit the $10 billion mark. Yet, the overall crypto market volumes are still catching their breath.
Bitcoin, the superstar of the crypto world, was hogging the limelight according to the latest Digital Asset Fund Flows Weekly Report. Investors were all eyes on Bitcoin, which saw outflows of $159 million. But guess what? Short-Bitcoin products were basking in the sun with inflows of $2.8 million. Even though Bitcoin managed to break out of a five-week slump recently, Ethereum couldn’t catch a break, suffering outflows of $29 million as investor interest took a nap.
Now, for some good news – multi-asset investment products are the crowd-pleasers! They welcomed a delightful $29 million, marking sweet 16 weeks of inflows. This streak has been a magnet for investors, pulling in a grand total of $471 million year-to-date, which is a juicy 10% of the total assets under management. Since June, these multi-asset products have been a hit for those craving a diversified portfolio buffet.
Solana strutted its stuff with a dazzling $5.3 million in weekly inflows. Not to be outdone, Litecoin, XRP, and Cardano joined the party with $0.9 million, $0.3 million, and $0.3 million in inflows, respectively.
On the global dance floor, Canada and Switzerland took the lead with bullish inflows of $43 million and $35 million. Down under, Australia caught the wave with $2 million, while Brazil added a cool $0.8 million to the pot.
But not everyone was in a celebratory mood. The US, Germany, and Hong Kong experienced notable outflows of $209 million, $8.3 million, and $7.3 million. Meanwhile, Sweden quietly saw $2.1 million slipping away for the week.
So there you have it, folks—a rollercoaster week in the world of crypto, full of twists, turns, and a dash of drama! Stay tuned, because who knows what next week will bring?
