Oh, what a jolly old frolic in the land of Crypto-mania this week! The clever little cryptocurrency exchange-traded products (ETPs) found themselves awash with riches once more, gobbling up a chuckling $1.3 billion in inflows. But who took the tastiest slice of the pie? Why, Ether (ETH) ETPs, of course! 🍰
Now hold your hats, folks, because this next bit is going to knock your socks right off into the laundry basket! Ether ETPs, the cheeky rascal, managed to snatch up a whopping $793 million in inflows, leaving poor Bitcoin (BTC) ETPs trailing behind like a tired tortoise. That’s a mind-boggling 95% more than Bitcoin! 😲 CoinShares revealed this delightful twist on Feb. 10.
The plot thickened when ETH flopped under $2,700 on Feb. 6 (oopsie daisy!). But instead of panicking, investors pounced on this golden opportunity like hungry otters at an all-you-can-eat seafood buffet. CoinShares’ top brain, James Butterfill, called it “significant buying-on-weakness.” Sounds fancy, eh?
And oh, what a turn of events it was! For the first time EVER in 2025 (and with echoes from mischievous 2024), Ether ETPs outshone Bitcoin ETPs in weekly inflows. Take that, Bitcoin, you old money-bags! 🏆
Bitcoin: The Turtle on the YTD Trail 🚶
Meanwhile, Bitcoin ETPs stumbled like a wobbly penguin. Weekly inflows slumped by 19%, dragging in just $407 million. A respectable figure, but definitely not the life of the crypto party.
Still, don’t shed a tear for Bitcoin just yet—it’s holding onto a hefty YTD inflow of nearly $6 billion. That’s a knee-slapping 505% more than Ether! “Ha! Look who’s laughing now!” Bitcoin seems to say. 😎
And let’s not forget about the sidekicks in this tale of adventure. XRP‘s ETPs took a joyous 45% leap to $21 million in weekly inflows. “Huzzah!” it hollered. Meanwhile, Solana ETPs did their own happy jig, soaring 148% to claim $11.2 million. Bravo, Solana! 💃
Wait, What’s Happening to the Treasure Chest? 📉
But beware, dear crypto enthusiasts, for danger lurks in the shadows! Despite these wins, the total assets under management (AUM) in crypto ETPs tripped and fell to $163 billion. That’s a 4% tumble from last week—and, oh golly, 11% below the all-time high of $181 billion set in January.
Was it a spell cast by the Wicked Witch of Market Declines? James Butterfill thinks so, noting that the drop is tied to recent price dips. “Oh bother,” said Bitcoin’s cheerful rival. 🤷♂️
Still, there’s some good news tucked away. BlackRock’s spot Bitcoin fund, affectionately nicknamed IBIT, swam against the tide with $315 million pouring in last week. Take a bow, BlackRock! 🎩
As for Fidelity’s Wise Origin Bitcoin Fund, alas, it wasn’t their week. The poor chap saw $217 million flowing out faster than kids running from vegetables! 🍅🥦
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2025-02-10 16:09