Crypto ETPs Struggle Amid DeepSeek Panic and Market Concerns

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Cointime2025/02/03 12:33

By:Cointime

Last week, cryptocurrency exchange-traded products (ETPs) experienced a 72% drop in inflows, with only $527 million coming in compared to the previous week's $1.9 billion. This was due to market concerns around China's AI platform DeepSeek and fears of a global trade war triggered by US President Donald Trump's push for stricter tariffs on imports. XRP investment products were the exception, with $14.5 million in weekly inflows and YTD inflows of $105 million, making it the second-best-performing altcoin for ETPs. Grayscale Investments and Bitwise saw significant outflows, with Grayscale recording $298 million in outflows last week, expanding the previous week's outflows of $124 million by 140%.

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Net inflows into global crypto investments dropped to $527 million last week from $1.9 billion the week before, according to asset manager CoinShares.While Trump’s potential tariffs were already an escalating concern last week, the full impact of his weekend announcement is yet to be reflected in the weekly figures.

The Block•2025/02/03 14:00

Utah’s Bitcoin reserve bill could become the first state-level law in the US

Share link:In this post: Utah could soon get its digital asset bill approved, especially since its Economic Development Committee voted in favour of it. Porter and Teuscher expect Utah to be the first US state to establish a Bitcoin reserve. Senator Lummis says their reserved bill has earned more bipartisan support, though they could use a bit more.

Cryptopolitan•2025/02/03 13:33