According to a recent report from CoinShares, cryptocurrency ETPs recorded $286 million in inflows last week, marking a continued positive trend led by Ether.
Inflows into ETPs and Ether's Achievements
Ether (ETH) led with net inflows of $321 million, indicating a strong sentiment turnaround in the market after a prolonged bearish phase. Over the past 30 days, the asset has seen a 36% increase in value, despite recent skepticism about its performance.
Outflows from Bitcoin and Other Assets
Bitcoin (BTC) faced an outflow of $8 million, reversing the positive momentum after six consecutive weeks of inflows. The price experienced volatility, dropping 6% to an intraweek low of $103,400, due to increasing concerns among market participants following a U.S. court ruling on tariffs. XRP also recorded significant outflows of $28 million for the second consecutive week.
Performance of iShares ETFs Following Bitcoin's Pullback
BlackRock's iShares ETFs emerged as the top issuer with inflows of $790 million, raising their year-to-date inflows to $12.4 billion. However, their assets under management (AUM) declined from $74.8 billion to $72.9 billion, showing that even leading funds were affected by Bitcoin's market weakness. Meanwhile, ARK Invest and 21Shares noted the largest issuer-specific outflows at $282 million this week.
The beginning of June shows mixed results for crypto assets, with Ether gaining ground due to positive fundamentals and renewed interest, while Bitcoin struggles with instability and outflows.
