Last week, crypto ETFs saw significant investments amounting to $572 million. These shifts occurred following U.S. President Donald Trump's executive order opening the pension market to digital assets.
Inflows into Crypto ETFs
According to CoinShares, inflows into crypto ETFs totaled $572 million after notable outflows of $1 billion early in the week. "We believe that the outflows were driven by growth concerns stemming from weak U.S. payroll figures," said James Butterfill, Head of Research at CoinShares.
Ethereum and Bitcoin as Leaders
Ethereum-based products attracted $268 million, the highest inflow for any asset, as ETH prices broke above $4,000 for the first time in eight months. Meanwhile, Bitcoin products also saw an addition of $260 million, helping the largest cryptocurrency by market cap exceed the psychological $120,000 mark.
Trump's Executive Order on Crypto Investments
The surge in prices and inflows coincided with President Trump's signing of an executive order allowing 401(k) pension funds to invest in cryptocurrencies. The new rules are expected to be implemented in the coming months.
Recent changes in the cryptocurrency investment landscape, such as Trump's executive order, create new opportunities for investors and may significantly impact the digital asset market.
