Crypto investors cool on Bitcoin funds, turning to Ether and XRP
Bitcoin-related funds saw outflows of $13 million over the past week, reversing five weeks of bullish inflows, according to Coinshares analyst James Butterfill.
Bitcoin-related investment products appear to have lost some of their sheen among crypto investors, recording its first week of outflows since in June.
to a July 24 report by CoinShares Head of Research James Butterfill, Bitcoin () investment products saw outflows of $13 million for the week ending July 21, reversing five weeks of inflows.
Short Bitcoin products also saw outflows of $5.5 million in the week.
In contrast, Ether () and XRP () investment products recorded a combined inflow of $9.2 million over the last week.
Butterfill noted that Ether investment products were the best performer last week with inflows of $6.6 million, while XRP funds recorded an inflow of $2.6 million. Altcoins Solana () and Polygon () tracked inflows of $1.1 million and $0.7 million, respectively.
Flows by the top digital asset investment products. Source: CoinShares
The apparent change of heart follows Ripple’s partial victory against the United States Securities and Exchange Commission on July 13, where the court ruled that when sold on exchanges to the general public.
The news spiked XRP’s price up 76% to $0.83 before cooling off to $0.69 at the time of writing.
Related:
Bitcoin however still remains the dominant digital asset investment product, with $558 million in inflows so far in 2023 and a total of $25.0 billion in assets under management — amounting to 67.4% of the total market share.
BTC is currently priced at $29,128, down 3.1% over the last 24 hours.
Over the last month, a host of financial institutions have filed for with the SEC since mid-June, including BlackRock, ARK Invest, Fidelity, Galaxy Digital, VanEck, Valkyrie Investments, NYDIG, SkyBridge and WisdomTree.
Magazine:
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Matrixport’s Cactus Custody partners with Singapore Gulf Bank (SGB) to upgrade compliant fiat custody and 24/7 instant access capabilities
This article reports on the collaboration between Cactus Custody, the compliant digital asset custody institution under Matrixport, and Singapore Gulf Bank (SGB). The partnership aims to provide institutional clients with compliant and efficient fiat custody and instant deposit and withdrawal services to meet the needs of connectivity between digital assets and traditional finance.
VIPBitget VIP Weekly Research Insights
As the crypto market recovers in 2025, Digital Asset Treasury (DAT) firms and protocol token buybacks are drawing increasing attention. DAT refers to public companies accumulating crypto assets as part of their treasury. This model enhances shareholder returns through yield and price appreciation, while avoiding the direct risks of holding crypto. Similar to an ETF but more active, DAT structures can generate additional income via staking or lending, driving NAV growth. Protocol token buybacks, such as those seen with HYPE, LINK, and ENA, use protocol revenues to automatically repurchase and burn tokens. This reduces circulating supply and creates a deflationary effect. Key drivers for upside include institutional capital inflows and potential Fed rate cuts, which would stimulate risk assets. Combined with buyback mechanisms that reinforce value capture, these assets are well-positioned to lead in the next market rebound.
Data: Bitcoin spot ETF saw a net inflow of $741.79 million yesterday
Trending news
MoreCrypto prices
More
