- Weekly digital asset fund inflows amounted to $1.9 billion last week.
- Trump’s crypto executive order led to an increase in global crypto investment products.
Global crypto investment products such as iShares, Grayscale, Fidelity, Bitwise, CoinShares, BlackRock witnessed $1.9 billion inflows last week. CoinShares reports that a recent crypto executive order, aimed at making the US a crypto capital, is the major driver behind the fund inflows.
Even though several altcoins witnessed increased fund inflows, the overall value decreased from $2.2 billion to $1.9 billion. Notably, there are no outflows from the funds for the past couple of weeks, as per CoinShares report.
Notably, Ethereum and XRP stole the spotlight this week with considerable rise in their fund inflows. While Ethereum fund inflows have rebounded with around $205 million, XRP gathered over $18.5 million.
As you can see in the image above, Bitcoin remains top cryptocurrency not only in terms of market dominance and market price but also in terms of weekly fund inflows. Thus, the total year-to-date digital asset fund inflows amounted to $4.8 billion so far.
Trump’s Crypto Executive Order Drove Digital Asset Fund Inflows Last Week
US President Donald Trump signed a crypto executive order last week, putting an end to the impatience of the crypto community. Trump finally made the US take a step towards clear crypto regulations, encouraging innovation and adoption of the industry in the country. In addition, the newly signed crypto executive order even revokes all the previous laws that hindered the growth of crypto.
The favorable crypto executive order is one of the major driving factors of the digital asset fund inflows in the US. Once the clear regulations are formed around crypto under the leadership of David Sacks, the industry could go further mainstream and attract more investors.
Even though there were no significant price surges in the crypto market last week, the trading volume increased to $25 billion last week. Out of the $1.9 billion inflows, the US alone recorded $1.7 billion inflows. The fact that there were no outflows last week is noteworthy.
Highlighted Crypto News Today:
XRP Suffers 10% Decline Amidst Bear Pressure Across Crypto Market
