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Bitcoin-related investment products appear to have lost some of their sheen among crypto investors, recording its first week of outflows since Blackrock filed for spot Bitcoin ETF<\/a> in june.<\/p>\n Accordingly<\/a> to a July 24 report by CoinShares’ head of research, James Butterfill, Bitcoin (BTC)<\/a> investment products saw outflows of $13 million for the week ending July 21, reversing five weeks of inflows.<\/p>\n Short Bitcoin products also saw outflows of $5.5 million in the week. <\/p>\n Bitcoin Fear and Greed Index is 50 ~ Neutral \u2014 Bitcoin Fear and Greed Index (@BitcoinFear) July 25, 2023<\/a><\/p><\/blockquote>\n In contrast, Ethereum (ETH)<\/a> and XRP (XRP<\/a>) investment products recorded a combined inflow of $9.2 million over the last week.<\/p>\n Butterfill noted that Ethereum investment products were the best performer last week with inflows of $6.6 million, while XRP funds recorded an inflow of $2.6 million. Other altcoins, such as Solana (Sol<\/a>) and Polygon (Matic<\/a>) tracked inflows of $1.1 million and $0.7 million respectively.<\/p>\n The apparent change of heart follows Ripple’s partial victory against the United States Securities and Exchange Commission on July 13, where the court ruled that XRP isn’t a security<\/a> when sold on exchanges to the general public. <\/p>\n The news spiked XRP’s price up 76% to $0.83 before cooling off to $0.69 at the time of writing.<\/p>\n Related: <\/em><\/strong>BlackRock ETF will be ‘big rubber yes stamp’ for Bitcoin \u2014 Charles Edwards <\/em><\/strong><\/a><\/p>\n Bitcoin however still remains the dominant digital asset investment product, with $558 million in inflows so far in 2023 and a total of $25.0 billion in assets under management \u2014 amounting to 67.4% of the total market share.<\/p>\n BTC is currently priced at $29,128, down 3.1% over the last 24 hours.<\/p>\n Over the last month, a host of financial institutions have filed for Bitcoin spot Exchange Traded Fund applications <\/a>with the SEC since mid-June, including BlackRock, ARK Invest, Fidelity, Galaxy Digital, VanEck, Valkyrie Investments, NYDIG, SkyBridge and WisdomTree.<\/p>\n Magazine: <\/em><\/strong>Should you ‘orange pill’ children? The Case for Bitcoin Kids Books<\/em><\/strong><\/a><\/p>\n <\/div>\n\n
Current price: $29,178 pic.twitter.com\/T1DMFpsX9p<\/a><\/p>\n