Crypto ETP Inflows Slow to $230 Million Amid Federal Reserve Meeting

Crypto exchange-traded products (ETPs) maintained their momentum last week, but at a slower pace than in previous weeks. According to CoinShares, ETPs recorded $230 million in inflows, marking four consecutive weeks of growth. However, this total was significantly lower than the $1.06 billion seen the previous week.

The slowdown was largely attributed to the market's interpretation of the US Federal Reserve's recent meeting as a 'hawkish pause', rather than broader geopolitical tensions. This interpretation led to a sharp reversal in inflows after the first two days of the week, with strong gains giving way to significant outflows.

Bitcoin funds were once again the driving force behind ETP inflows, accounting for nearly all of the $219.2 million gain. Ether funds saw $27.5 million in outflows, ending their three-week streak of growth. Solana and other assets like Chainlink and Hyperliquid also experienced notable gains.

Despite the slowdown, crypto ETPs have clocked over $1.4 billion in inflows year-to-date, with Bitcoin ETPs leading at over $1.2 billion. Total assets under management stand at $138 billion.