Cryptocurrency investment products have seen outflows of nearly $5 billion over the past four weeks, but the inflow in the final days of last week represented little sign of improving sentiment.
Monday’s survey showed exchange-traded products (ETPs) saw an outflow of $1.94 billion last week, a slight decline from the $2 billion exodus in the previous week report from CoinShares.
The four-week total now stands at $4.9 billion, marking the third-largest outflow on record. Only the March sell-off caused by tariffs and the economic downturn in February 2018 were greater.
Still, CoinShares reported “preliminary signs of a turnaround,” citing $258 million in inflows in the final trading days of the week following seven straight days of redemptions.
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XRP funds counter the broader crisis
XRP (XRP) investment products have been a occasional glowing spot. XRP exchange-traded products (ETPs) recorded $89.3 million in inflows last week, bucking the broader economic downturn even as the token fell 6.9%.
According to Cointelegraph data, ETP Solana (SOL) funds were in the red – the outflow of funds amounted to USD 156 million and SOL decreased by 3.5%.
Bitcoin (BTC) saw the bulk of outflows at $1.27 billion, while Ether funds (ETH) saw weekly outflows of $589 million.
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Meanwhile, the industry’s most successful investors, who are tracked as “smart money” traders on Nansen’s blockchain intelligence platform, are betting on near-term appreciation of the XRP token.
Astute money investors added $10.4 million in cumulative leveraged long positions in the last 24 hours as this cohort was net long $74 million, according to the cohort. Nansen.
However, Astute Money continued to bet on Bitcoin’s value continuing to decline, with an accumulated net brief position in Bitcoin of $325 million.
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