Crypto-related Exchange Sales Products (ETPS) have ended its five-week leak streak, recording a strong weekly inflow of $644 million, according to a latest report from Coinshares.
James Butterfill, head of research at Coinshares, noted that this trend reversal reflects a significant improvement in investor sentiment across the digital asset sector.
According to him, Crypto ETPS saw an influx last week following a 17-day spill streak of daily spills. The updated inflow marked $134.5 billion in total assets (AUM), which has risen 6.3% since March 10th.
Bitcoin leads recovery
The report showed that Bitcoin will play the most important role in this rebound, attracting $724 million in the fresh capital. This marks the end of a $5.4 billion outflow streak over the past five weeks.
Many of the activities came from spot Bitcoin ETFs registered in the US. BlackRock's iShares Bitcoin Trust (IBIT) led the fees with an inflow of $464 million. Fidelity's FBTC continued at $136 million, while Ark 21Shares brought in $75 million.
At the same time, the shortcoin product saw a $7.1 million spill, strengthening the bullish mood.
In total, US-based products accounted for a $632 million inflow. However, this new optimism expanded beyond the US market as Switzerland added $15.9 million, Germany saw $13.9 million, and Hong Kong recorded $1.2 million.
XRP rise, Ethereum struggle
Outside of Bitcoin, XRP led the Altcoin inflow at $6.7 million.
The token benefited from a new optimism following the US Securities and Exchange Commission's decision to stop the long-standing litigation against Ripple Labs.
Solana has roughly coincided with an influx of XRP and a $6.4 million influx despite waning interest in MemeCoin activity on the network.
Meanwhile, Polygon and ChainLink, albeit modest, each recorded profits at $400,000 and $200,000, respectively.
In contrast, Ethereum fell the most sharply, with a $86 million outflow.
Other altcoins facing redemption included $1.3 million worth of SUI and Polkadot, Tron, $950,000 Tron, and Algorand, $820,000 inflows, respectively.
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