WASHINGTON (dpa-AFX) - Cryptocurrencies are trading on a positive note despite anxiety ahead of the release of inflation readings from the U.S.
U.S. Bureau of Labor Statistics is expected to reveal an uptick in consumer price inflation readings in the month of May. Headline and core annual inflation as well as monthly core inflation is seen edging up. Headline monthly inflation is however expected to remain steady.
Overall crypto market capitalization has increased 0.76 percent overnight to $3.44 trillion. The 24-hour trading volume has also increased 8.1 percent to $141 billion.
Bitcoin edged up 0.05 percent overnight to trade at $109,373.55 which is 2 percent below the all-time high of $111,970 recorded on May 22. The 24-hour trading range was between $110,380 and $108,368.
Inflows to Bitcoin-based Spot ETF products in the U.S. recorded $431 million on Tuesday versus $386 million on Monday. iShares Bitcoin Trust (IBIT) topped inflows with $337 million.
Ethereum rallied 2.9 percent in the past 24 hours to trade at $2,769 which is 43 percent below the all-time high. Ether traded between $2,832 and $2,684 in the past 24 hours.
Ethereum-based Spot ETF products witnessed inflows of $125 million on Tuesday versus inflows of $53 million on Monday.
4th ranked XRP gained 1.9 percent during the past 24 hours as it changes hands at $2.32. 5th ranked BNB added 1.2 percent whereas 6th ranked Solana surged 4.1 percent during the past 24 hours. 8th ranked Dogecoin also jumped 5 percent whereas 9th ranked TRON added 0.85 percent overnight. 10th ranked Cardano witnessed a price gain of 4.2 percent in the past 24 hours.
76th ranked Kaia (KAIA) topped overnight gains among the top 100 cryptocurrencies with a surge of 19.75 percent. 91st ranked Jito (JTO) followed with overnight gains of 18.3 percent.
90th ranked DeXe (DEXE) is the greatest laggard among the top 100 cryptocurrencies with an overnight decline of 10.2 percent. 73rd ranked dogwifhat (WIF) followed with a decline of 3.34 in the past 24 hours.
Meanwhile, the CoinShares' Digital Asset Fund Flows Weekly report for the week ended June 7 showed inflows of $224 million as compared with inflows of $286 million during the prior week.
According to the report, there has been a noticeable deceleration in inflows amid uncertainty over monetary policy, with investors adopting a wait-and-see stance ahead of further signals from the U.S. Federal Reserve on inflation.
Year-to-date inflows have increased to $11.3 billion whereas the assets under management have risen to $175.87 billion. According to the report, Ethereum topped flows by asset, iShares ETF topped flows by provider and United States topped flows by country during the past week.
Ethereum-based products witnessed massive inflows of $295 million. Bitcoin-based products however recorded outflows of $56 million followed by multi-asset products that recorded outflows of $6.6 million. Short Bitcoin products and XRP-based products, both recorded outflows of close to $4 million.
Multi-asset products, Chainlink products and Short Bitcoin products continued to record negative flows on a year-to-date basis.
Close to 86 percent of the cumulative AUM of $175.87 billion is attributed to Bitcoin products that account for an AUM of $151.2 billion. Bitcoin's dominance of crypto market is much lower, at close to 63 percent.
AUM of Ethereum-based products stood at $14.1 billion. Multi-asset portfolios command assets under management of $6.76 billion. An AUM of $1.4 billion is attributed to Solana-based products. XRP-based products have AUM of $1.22 billion followed by Sui-based products with an AUM of $278 million.
The provider-wise analysis of flows inter alia shows inflows of $330 million to iShares ETF. Bitwise Funds Trust also recorded inflows of $13 million. Fidelity Wise Origin Bitcoin Fund witnessed outflows of $168 million followed by ARK 21Shares that recorded outflows of $25 million. ProShares ETF also recorded outflows of $23 million.
iShares ETF tops with a cumulative AUM of $72.8 billion implying a share of 41.4 percent. Though outflows exceed $1.7 billion in 2025, Grayscale Investments still accounts for an AUM of $29.3 billion, which is 16.7 percent of the cumulative AUM of $175.87 billion. Fidelity commands an AUM of $20.5 billion followed by ARK 21Shares that has an AUM of $4.8 billion.
The top 3 viz iShares, Grayscale Investments and Fidelity Wise Origin Bitcoin Fund account for more than 69.7 percent of the total AUM.
In addition to Grayscale Investments, Fidelity Wise Origin Bitcoin Fund, Bitwise Funds Trust, CoinShares XBT, 21Shares and ARK 21Shares have recorded negative flows in the year-to-date period.
United States witnessed inflows of $175 million. Germany saw inflows of $47.8 million followed by Switzerland that recorded inflows of $15.7 million. Canada recorded inflows of $9.8 million. Hong Kong recorded outflows of $14.6 million followed by Brazil that witnessed outflows of $9.2 million.
Of the cumulative AUM of $175.87 billion, $133.89 billion or 76.1 percent is in United States. Canada follows with an AUM of $6.1 billion whereas Germany accounts for an AUM of $5.95 billion. Switzerland accounts for an AUM of $5.8 billion followed by Sweden with an AUM of $3.5 billion.
Sweden and Switzerland have recorded net outflows over the year-to-date period.
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