Crypto ETPs rebound with $1.07 billion inflows after four weeks of losses, while XRP hits record weekly gains amid US ETF launches.
Cryptocurrency investment products snapped a four-week losing streak, drawing about $1 billion in fresh money after four consecutive weeks of losses totaling $5.5 billion.
Crypto exchange-traded products (ETPs) recorded $1.07 billion of inflows last week, their first week of gains since late October, according to the European crypto asset manager CoinShares.
James Butterfill, CoinShares’ head of research, attributed the rebound to optimism over a potential US interest rate cut, following remarks from Federal Open Market Committee (FOMC) member John Williams.
