Crypto funds attract $3.2B inflows despite Friday's flash crash

Despite a significant crypto market crash last Friday, cryptocurrency investment products demonstrated remarkable resilience, attracting $3.17 billion in inflows throughout the week. CoinShares reported that only $159 million was withdrawn from these funds during the market turmoil led by dips in Bitcoin and Ether prices. The week also witnessed record trading volumes, reaching $53 billion, with $15.3 billion traded on Friday alone. This indicates strong investor confidence amid the volatility, as total inflows for the year hit $30.2 billion, despite overall assets under management declining to $242 billion. Bitcoin funds led the inflows with $2.7 billion for the week, although they remained below last year's totals. Ether funds recorded $338 million in net inflows but faced significant outflows of $172 million on Friday, suggesting investor caution. Altcoin products saw a decline in inflows, with Solana and XRP investment products witnessing reduced interest compared to previous weeks. Overall, the market shift indicates a cautious yet optimistic approach to crypto investments despite ongoing external economic pressures.

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