Inflows into crypto investment products traded on ETP/ETF exchanges hit $230 million last week, but momentum slowed as the market awaited the outcome of the Federal Reserve (Fed) meeting.
On the other hand, the week saw an outflow of $405 million after the FOMC meeting, according to a recent CoinShares report.
Even so, this record inflow maintained for four consecutive weeks, but the amount was much lower than the previous week’s $1.06 billion.
CoinShares Head of Research, James Butterfill, stated that the slowdown was more due to the market interpreting the Fed meeting as a ‘hawkish pause’, the Fed did not raise interest rates but signaled that rates could rise in the future.
In terms of assets, Bitcoin led the inflows with $219.2 million, while Ether recorded an outflow of $27.5 million, ending a record three-week inflow streak.
Solana, meanwhile, continued to be popular with an inflow of $17 million for the seventh consecutive week, bringing its total inflow to $136 million.
Other assets such as Chainlink and Hyperliquid also saw inflows of $4.6 million and $4.5 million respectively.
Since the beginning of the year, crypto ETPs have seen inflows of $1.4 billion, with Bitcoin dominating at $1.2 billion.
Total assets under management now stand at $138 billion.
In the US, about 43% of Bitcoin ETP inflows came from spot Bitcoin ETFs, which saw inflows of $95.2 million last week.
Despite recording four consecutive weeks of inflows, spot Bitcoin ETFs have still lost around $400 million since the start of the year.
US spot Ether ETFs have also failed to sustain inflows after three weeks, with outflows of $60 million last week.
