Last week, a total net inflow of 6 million dollars was provided to cryptocurrency-based investment products. While XRP drew attention with a large investment of 37.7 million dollars, Ethereum experienced an outflow of 26.7 million dollars. While outflows continued from the US, Europe and Canada renewed confidence in the markets, creating a balanced picture.

According to CoinShares' weekly report, although global investor sentiment is mixed, signs of recovery have begun to become apparent. There was an outflow of 71 million dollars from US-based cryptocurrency investment products, marking the highest outflow on a weekly basis. However, the outlook in Europe was more positive. There were inflows of 43.7 million dollars from Switzerland, 22.3 million dollars from Germany, and 9.4 million dollars from Canada. These figures indicate that regional investors' confidence in the cryptocurrency market is starting to increase.

The strong US retail sales data announced in the middle of last week caused a brief panic, leading investors to withdraw a total of 146 million dollars. However, the balanced flows throughout the week revealed that interest in cryptocurrency-based investment products is still alive.

XRP Rises While Ethereum Outflows Deepen

According to the data, Bitcoin closed the week with a slight outflow of 6 million dollars, reflecting investors' indecision with a fluctuating chart. Bitcoin experienced outflows for the seventh consecutive week in short-term investment products, totaling 36 million dollars. This corresponds to approximately 40% of the assets under management.

Ethereum (ETH) continued its outflow series, recording an outflow of 26.7 million dollars last week. A total of 772 million dollars has been withdrawn from Ethereum over the last eight weeks. Nevertheless, Ethereum continues to be the second most entered investment product of the year, with a total of 215 million dollars in entries.

XRP closed the week with a strong inflow of 37.7 million dollars, reaching a total net inflow of 214 million dollars as of 2023, becoming the third most popular cryptocurrency-based investment product of the year. The search for alternatives by investors moving away from traditional markets reinforces interest in XRP.

There were only limited entries of 300 thousand dollars for altcoins like Solana (SOL) and Cardano (ADA). On the other hand, there was an outflow of 1.1 million dollars from Sui (SUI) coin.


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