Although Bitcoin ETPs saw losses against altcoin funds last week, the trend probably implied the anticipation of ETFs rather than a broad altcoin season, CoinShares’ head of research said.
Cryptocurrency investment products ended last week in the green, marking 15 consecutive weeks of inflows, even as Bitcoin funds saw minor outflows.
Global crypto exchange-traded products (ETPs) recorded $1.9 billion of inflows during the trading week ending Friday, according to a Monday report from European crypto asset manager CoinShares.
The latest inflows came despite heightened market volatility as Bitcoin (BTC) tumbled to as low as $115,000 by the end of the week, while Ether (ETH) briefly dropped below $3,600 on Thursday, according to CoinGecko.
