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- Digital asset inflows hit $3.3 billion last week, pushing yearly inflows to a new record of $10.8 billion.
- Bitcoin led with $2.9 billion in inflows; Ethereum followed with $326 million.
- XRP broke its 80-week streak with a record outflow of $37.2 million.
The crypto market entered a new chapter last week. Investors poured $3.3 billion into crypto asset products, setting a new benchmark for 2024. This pushed the total year-to-date inflow to $10.8 billion, the highest ever recorded.
Total assets under management momentarily topped $187.5 billion for the week, a sign of investor interest and confidence in the market. This comes after heightened economic uncertainty in the US. Concerns were raised after a downgrade by Moody’s and an increase in treasury yields.
Several investors turned to digital assets to hedge. The United States led the inflow list with $3.2 billion, while steady participation was recorded in Germany, Hong Kong, and Australia. Swiss investors, meanwhile, utilized the strength of the market to lock in profit and added to $16.6 million in outflows.
Bitcoin Leads Crypto Inflows with $2.9B
Bitcoin led again with $2.9 billion. It made up over a quarter of year-to-date inflows. This surge in interest stems from the ongoing role of Bitcoin as the market anchor. Institutional investors again flocked back in large numbers, citing economic uncertainty and inflation concerns.
Some of the Short-Bitcoin instruments attracted interest as well. These instruments registered $12.7 million in inflows, the most since Weihnachten 2024. A portion of the investors might be hedging a possible correction, despite the overall attitude still being optimistic.
Ethereum trailed Bitcoin with $326 million in inflows. This represents the fifth consecutive week of gains for Ethereum. It is the strongest weekly inflow the asset has seen in over three months. There is rising positive sentiment as Ethereum continues to improve both in technology and appeal in the market.
XRP Outflows Signal Changing Market Mood
Last week, XRP had a major change. After 80 consecutive weeks of inflows, the asset had a sudden reversal. Investors withdrew $37.2 million from XRP-related funds, which was its highest-ever weekly outflow. The end to XRP’s winning streak raises questions regarding investors’ confidence.
It can be an indication of a shift in interest and concern regarding legal and regulatory issues. XRP remains one of the most traded digital assets despite the setback. Generally, last week was a perfect indication of the rapid shifting of investor sentiment in the space of the digital assets.
While traditional markets encounter headwinds, digital assets keep drawing long-term enthusiasts and short-term speculators. The trend indicates a fluid and constantly shifting investment climate in which the role of digital finance becomes increasingly central.
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