According to Cointelegraph, CoinShares data shows that cryptocurrency investment products attracted $2 billion in new inflows last week. Global crypto ETPs have seen an increase of $5.5 billion in inflows over the past three weeks.
Despite a positive trend over the past three weeks, the latest weekly inflow decreased by 41% compared to last week's $3.4 billion. Bitcoin briefly rose last week, but ETP inflows slowed.
Bitcoin saw inflows of $1.8 billion during the trading week from April 28 to May 2, a 43% decrease from the previous week. However, short Bitcoin ETP inflows surged by 300% to $6.4 million.
Ethereum and XRP attracted $149 million and $10 million in ETP inflows, respectively. Bitcoin accounted for 98% of all crypto ETP inflows this year to date, with total inflows reaching $5.6 billion as of May 3.
CoinShares data indicates that BlackRock's iShares products attracted $2.7 billion in inflows last week, while ARK Invest and Fidelity Investments saw outflows of $458 million and $201 million, respectively. Other issuers such as Bitwise, Grayscale, and ProShares also recorded small outflows totaling $36 million, $3.1 billion, and $25 million.
