Crypto ETPs drew $224 million in inflows last week as XRP led gains, while US ETFs lagged and Ether posted outflows amid mixed macro data and policy expectations. Cryptocurrency investment products recorded minor inflows last week despite mixed geopolitical signals and increasingly hawkish investor expectations. Global crypto exchange-traded products (ETPs) clocked $224 million in inflows last week, following a $414 million outflow a week before, CoinShares reported on Tuesday. The fresh inflows brought total assets under management to about $131.8 billion, roughly in line with levels seen at the same time last year. Year-to-date inflows also totaled about $1.2 billion, compared with $960 million over the same period last year. Read more
Argentine lenders are reportedly testing JPMorgan’s JPM Coin to improve settlement speed and efficiency, even as the central bank maintains restrictions on crypto services. Argentine banks are reportedly testing JPMorgan’s deposit token infrastructure for back-end settlement workflows, even as the country’s central bank still bars lenders from offering most crypto-related services to clients, according to local outlet iProUP. A group of financial institutions has begun piloting JPM Coin, a deposit token designed for institutional use. Banco CMF is among the confirmed participants, working through its newly launched corporate unit QORP as part of JPMorgan’s minimum viable product, per the report. “In the first phase, banks are expected to work on integrating available services to verify improvements in settlement times and interbank reconciliations of integrated banks,” Maximiliano Cohn, chief information officer of CMF, reportedly told the outlet. Read more
Bitcoin stochastic RSI signals led a trader to draw key comparisons between current BTC price action and its rebound after the 2022 bear market. Bitcoin (BTC) is copying the end of its 2022 bear market “nearly perfectly,” according to a new BTC price analysis. Key points: Bitcoin stochastic RSI values are “nearly perfectly” repeating the end of its last bear market, new analysis claims. Read more