Bitcoin breached the $102 level again in the past 24 hours amidst bullish momentum triggered by anticipation ahead of the inauguration of Donald Trump as U.S. president. Overall crypto market capitalization also rose to $3.61 trillion before dropping to its current level of $3.55 trillion. Continuing strong inflows to Bitcoin Spot ETF products in the U.S. also boosted market sentiment.
Bitcoin is now ranked 7th and Ethereum 25th in the global ranking of all assets as per market capitalization published by companiesmarketcap.com.
Bitcoin Spot ETF products in the U.S. saw inflows rising to $979 million on Monday from $908 million a day earlier. Fidelity Wise Origin Bitcoin Fund (FBTC) topped with inflows of $370 million followed by iShares Bitcoin Trust (IBIT) that recorded inflows of $209 million. Ark 21Shares Bitcoin ETF (ARKB) also recorded inflows of close to $153 million. No ETF recorded net outflows on Monday.
Inflows to Ethereum Spot ETF products in the U.S. rose to $129 million on Monday from $59 million a day earlier.
Bitcoin has gained 1.5 percent overnight and 5.5 percent in the past week to trade at $100,735.37, around 7 percent below the all-time high. Bitcoin traded between $102,712.49 and $98,729.28 in the past 24 hours.
Ethereum slipped 0.07 percent in the past 24 hours to trade at $3,639.39, around 26 percent below the previous peak recorded in November 2021. ETH is however holding on to gains of 6.4 percent in the past week. Ether traded between $3,743.94 and $3,622.30 in the past 24 hours.
3rd ranked XRP (XRP) has rallied 1.1 percent overnight to trade at $2.42, around 37 percent below the all-time high touched in January 2018. The cryptocurrency issued by Ripple Labs has gained more than 13 percent in the past week.
BNB (BNB) gained more than a percent overnight and close to 2 percent in the past week to rise to the 5th rank overall. At its current trading price of $724.58, BNB is trading 9 percent below the all-time high.
Solana (SOL), slipped to the 6th rank overall amidst an overnight decline of 1.8 percent. With weekly gains of 9.5 percent, SOL is currently trading at $214.07, around 19 percent below its record high.
Meanwhile, the CoinShares’ Digital Asset Fund Flows Weekly report for the week ended January 3 showed net outflows of $75 million. Month-to-date flows stood at $556 million. According to the report, XRP topped flows by asset, Fidelity ETF topped flows by provider and Canada topped flows by country during the past week.
XRP-based products recorded inflows of $5.7 million followed by multi-asset products that recorded inflows of $4.1 million.
Ethereum-based products witnessed outflows of $49.6 million followed by Bitcoin-based products that saw outflows of $25 million. Short Bitcoin products also registered outflows of $6.6 million.
More than 81 percent of the cumulative AUM of $161 billion is attributed to Bitcoin products that account for an AUM of $130 billion. Bitcoin’s dominance of crypto market is much lower, at close to 56 percent.
AUM of Ethereum-based products stood at $18.6 billion. Multi-asset portfolios command assets under management of $7.2 billion. An AUM of $1.8 billion is attributed to Solana-based products. XRP-based products have AUM close to $930 million followed by Binance-based products with an AUM of $703 million.
The provider-wise analysis of flows inter alia shows inflows of $275 million to Fidelity ETF. Ark 21Shares recorded inflows of $202 million followed by Bitwise ETF that recorded inflows of $87 million.
Grayscale Investments recorded outflows of $217 million followed by iShares ETF that witnessed outflows of $106 million. Volatility Shares Trust also registered outflows of $103 million.
iShares ETF tops with a cumulative AUM of $58.2 billion implying a share of 36 percent. Though outflows exceeded $21 billion in 2024, Grayscale Investments still accounts for an AUM of $28.6 billion, which is 17.8 percent of the cumulative AUM of $160.6 billion. Fidelity commands an AUM of $20.2 billion followed by 21Shares that has an AUM of $4.9 billion.
The top 3 viz iShares, Grayscale Investments and Fidelity account for more than 66.6 percent of the total AUM.
The country-wise analysis shows weekly inflows of $196 million to United States. Switzerland recorded inflows of $8.4 million.
Canada recorded outflows of $213 million. Germany saw outflows of $40.6 million followed by Sweden which witnessed outflows of $16.2 million. Hong Kong also recorded outflows of $10.2 million.
Of the cumulative AUM of $160.6 billion, $123.8 billion or 77.1 percent is in United States. Switzerland follows with AUM of $7.4 billion whereas Canada accounts for an AUM of $6.2 billion. Germany accounts for an AUM of $5.7 billion followed by Sweden with an AUM of $4 billion.
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