Record Inflow to Crypto Funds: Solana and XRP on the Rise

Weak employment data and uncertainty within the US government have brought a historic influx of funds into digital asset products. According to recent reports, a record total of $5.95 billion flowed into digital asset investment products last week. According to CoinShares' analysis, this increase was attributed to a delayed response to the US Federal Reserve's interest rate cuts, weak employment data, and investors turning to cryptocurrencies as a safe haven due to the risk of government shutdown.

Regionally, the vast majority of fund inflows were sourced from the US. The US alone saw a remarkable influx of $5 billion, marking the highest weekly fund inflow in its history. Following this, Switzerland recorded $563 million and Germany $312 million. This strong demand pushed the total assets under management (AuM) of digital asset funds to an all-time high of $254 billion.

The most popular asset throughout the week was Bitcoin. With a total inflow of $3.55 billion, Bitcoin recorded its highest weekly inflow ever. Investors preferred not to focus on short-position products, despite prices approaching record levels. Ethereum also ended the week with an inflow of $1.48 billion, securing the second spot in this area. The total inflow of Ethereum since the beginning of the year reached $13.7 billion, nearly tripling that of last year.

Other notable assets of the week included Solana and XRP. Solana saw an inflow of $706.5 million, while XRP recorded $219.4 million in inflows. The total fund inflow for Solana since the beginning of the year rose to $2.58 billion. No significant inflows were observed in other altcoins.