Hold onto your digital hats, folks! Multi-asset products are on a sizzling 16-week winning streak, raking in a cool $29 million just last week. Talk about having the Midas touch!
While digital asset investment products saw a teeny-weeny outflow of $147 million, it's all thanks to some unexpectedly strong economic data throwing cold water on the hopes for big rate cuts. But hey, that's just part of the rollercoaster ride that is crypto!
ETP investment product trading volumes got a nice little bump, rising 15% to hit $10 billion. Meanwhile, the overall crypto market volumes decided to take a nap.
Bitcoin was the star of the show, grabbing all the investor eyeballs, according to the latest scoop from the Digital Asset Fund Flows Weekly Report. But it wasn’t all roses for the big guy, as Bitcoin faced outflows of $159 million. Meanwhile, short-Bitcoin products had a mini party with inflows of $2.8 million.
Ethereum tried to bounce back but stumbled with $29 million in outflows. It seems like Ethereum's invitation to the party got lost in the mail.
Now, onto the bright side of things! Multi-asset investment products are the real MVPs, pulling in $29 million and making it 16 weeks in a row of juicy inflows. They've been the apple of investors' eyes since June, thanks to their diversified portfolios.
Solana strutted in with $5.3 million in inflows, while Litecoin, XRP, and Cardano joined the party with $0.9 million, $0.3 million, and $0.3 million respectively.
Canada and Switzerland were all about the bullish vibes, with inflows of $43 million and $35 million. Down under in Australia and over in Brazil, they weren't left out, adding $2 million and $0.8 million to the pot.
But in the land of the eagle, Germany, and Hong Kong, it was a different story. The US saw outflows of $209 million, Germany waved goodbye to $8.3 million, and Hong Kong parted with $7.3 million. Sweden also joined the outflow club with $2.1 million heading out the door.
That's the latest in the wild, wild world of crypto! Buckle up, because it's sure to be an exciting ride.
