Last week, cryptocurrency investment products demonstrated a positive dynamic with inflows following a prolonged growth period. According to CoinShares, the total inflow amount for the week was $572 million.
Market Overview of Crypto ETPs
Recent data indicates that thanks to the recovery in Bitcoin and Ether prices, cryptocurrency ETPs showed significant growth. Following a 15-week streak of inflows totaling $27.8 billion, new inflows increased the total to $30.7 billion.
Impact of 401(k) Approval on the Market
CoinShares researcher James Butterfill noted that the recovery of crypto ETP flows was likely linked to the US government's decision to allow digital assets in 401(k) retirement plans. "The easing of market stress also occurred in the latter half of the week, when we saw inflows of $1.57 billion," he stated.
Dynamics of Ether and Bitcoin ETPs
Last week, Ether ETPs attracted the largest inflows of nearly $270 billion, raising the total assets under management to a record high of $32.6 billion. Bitcoin ETP also showed significant recovery with inflows totaling $265 million.
Thus, against the backdrop of recovering prices for major cryptocurrencies and new government initiatives, the market for cryptocurrency investment products is showing positive results, enhancing investors' interest.
