Digital Asset Funds Sag, Bitcoin Fades as Ethereum, XRP Rise
After four weeks of gaining $742 million in inflows, digital asset funds experienced a reversal with outflows of $6.5 million. The lack of positive news for Bitcoin (BTC) investors contributed to this trend, as major catalysts had already occurred. BlackRock's filing for a BTC exchange-traded fund sparked a surge in BTC-focused investment funds, but BTC's price quickly dropped below $30,000 after XRPs court victory against the SEC. However, there was positive sentiment towards altcoins, with Ethereum (ETH) investment products receiving the largest inflows, indicating a turnaround in sentiment for the second-largest crypto asset.
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Digital Asset Funds Sag, Bitcoin Fades as Ethereum, XRP Rise
After four weeks of gaining $742 million in inflows, digital asset funds experienced a reversal with outflows of $6.5 million. The lack of positive news for Bitcoin (BTC) investors contributed to this trend, as major catalysts had already occurred. BlackRock's filing for a BTC exchange-traded fund sparked a surge in BTC-focused investment funds, but BTC's price quickly dropped below $30,000 after XRPs court victory against the SEC. However, there was positive sentiment towards altcoins, with Ethereum (ETH) investment products receiving the largest inflows, indicating a turnaround in sentiment for the second-largest crypto asset.