Global Crypto Market Sees $224 Million Inflow Led by Switzerland

The global cryptocurrency market experienced a significant rebound last week with a $224 million inflow in exchange-traded products (ETPs). This surge was largely driven by Switzerland, which accounted for approximately $157 million of the total, representing 70% of global inflows.

Among individual cryptocurrencies, XRP led all inflows at around $120 million, making up more than half of the total. Notably, this figure is almost entirely attributed to European and international ETP demand, with virtually no contribution from U.S. spot XRP ETFs. Bitcoin ETPs followed closely behind, drawing in $107 million.

However, it's worth noting that the broader ETP market, which includes leveraged products, short products, and altcoin funds across dozens of countries, is not confirming the narrative of 'institutions buying.' The geographic concentration of inflows suggests that European investors are driving demand rather than their American counterparts.