Biggest Bull Run Since 2021: Bitcoin (BTC), XRP, and Other Inflows Soar to $1.84 Billion

The cryptocurrency market is experiencing a resurgence, with digital asset investment products seeing a significant increase in inflows. CoinShares data reveals that inflows reached a staggering $176 million last week, marking the 10th consecutive week of positive inflows. This brings the cumulative total to an impressive $1.84 billion.

Bitcoin Leads the Charge

Bitcoin, the world's largest cryptocurrency, was the primary driver of this surge, attracting $133 million in inflows. Notably, Short-Bitcoin, which had experienced outflows for the past three weeks, saw a reversal with $3.6 million flowing in last week.

XRP ETPs See Notable Uptick

XRP-focused exchange-traded products (ETPs) also experienced a noteworthy increase, with over half a million dollars flowing into these instruments. While the amount may seem modest, it represents a doubling from the previous week. Year to date, XRP ETPs have accumulated $13 million, positioning it as the third-best performer among altcoins, trailing only Ethereum (ETH) and Solana (SOL).

Ethereum Continues Positive Momentum

Ethereum, the second-largest cryptocurrency, continued its positive momentum, securing inflows of $134 million in a monthlong streak. This marks a significant turnaround as net flows for Ethereum turned positive for the first time this year, following an extended period of negative sentiment.

Bull Run Reminiscent of 2021

The current influx of funds represents the most substantial bull run since October 2021, coinciding with the launch of futures-based ETFs at that time. However, despite a remarkable 107% increase in assets under management this year, reaching $46.2 billion, the total remains below the all-time high of $86.6 billion recorded in 2021.

Overall, the cryptocurrency market is showing signs of renewed strength, with investors once again showing confidence in digital assets.


Key Takeaways

  • Bitcoin (BTC) inflows reach $133 million, marking the 10th consecutive week of positive sentiment.
  • XRP-focused exchange-traded products (ETPs) see a doubling of inflows to over half a million dollars.
  • Ethereum continues its positive momentum, securing inflows of $134 million in a monthlong streak.
  • Current influx of funds represents the most substantial bull run since October 2021.
  • Despite a 107% increase in assets under management, total remains below the all-time high of $86.6 billion.
Author: Denis Tabyrtsa

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