Key Takeaways
- Crypto exchange-traded products experienced $454 million in outflows last week.
- The outflows nearly counteracted the $1.5 billion inflows recorded earlier in the year, marking a significant change in market sentiment.
Funds tied to XRP and Solana saw strong inflows last week despite a wave of outflows across crypto exchange-traded products, according to a new report from CoinShares.
Bitcoin led the weekly outflows totaling approximately $405 million, followed by Ethereum with $116 million, reversing much of the $1.5 billion in early-year inflows.
In contrast, XRP funds drew in $46 million, while Solana products attracted around $33 million. Sui and Chainlink also closed out the week with minor inflows.
Among providers, Grayscale and Fidelity accounted for the bulk of weekly redemptions, while iShares and ProFunds attracted inflows. Total assets under management stood at $182 billion as of January 9.
Divergence in investor sentiment was clear, as US funds recorded the biggest outflows while Germany, Canada, and Switzerland drew inflows.
Investor outflows from digital asset products last week reflect waning optimism over a March Fed rate cut following recent macro data, as noted by CoinShares analysts.
Markets are pricing in only a 27% chance of a Fed rate cut in March, per the FedWatch tool.
Source: https://cryptobriefing.com/xrp-solana-fund-inflows-crypto-etps-outflows/
