Cryptocurrency investment products extended their multi-week inflow streak as Bitcoin hovered near all-time highs and Ether briefly topped $2,800 for the first time since February.
According to CoinShares, global crypto exchange-traded products (ETPs) saw $1.9 billion in inflows during the week ending Friday, pushing the nine-week total to $12.9 billion.
The surge in inflows also drove crypto ETPs to a new year-to-date (YTD) record of $13.2 billion, noted James Butterfill, head of research at CoinShares.
Meanwhile, total assets under management (AUM) in crypto ETPs rose to $179 billion, up from $175.9 billion the previous week.
Bitcoin leads the inflows once again
After two weeks of modest outflows, Bitcoin investment products rebounded strongly, leading the pack with $1.3 billion in inflows last week. Short-Bitcoin products also saw minor gains, bringing in $3.7 million, though their assets under management (AUM) remained relatively low at $96 million.
Ether ETPs followed in second place, continuing their positive momentum with $583 million in weekly inflows. According to CoinShares’ James Butterfill, these inflows represent the largest gains for ETH products since February, including their highest single-day inflows to date.
After three consecutive weeks of outflows, XRP investment products saw a turnaround with $11.8 million in inflows last week. Sui products also continued to attract interest, recording an additional $3.5 million in inflows.
BlackRock’s Crypto ETF Inflows Soar to $1.5 Billion
BlackRock’s iShares exchange-traded funds (ETFs) led all issuers last week, bringing in $1.5 billion in inflows and pushing year-to-date (YTD) totals to over $14.2 billion.
Other U.S.-based crypto ETFs saw modest weekly inflows totaling up to $95 million, while Europe’s CoinShares XBT Provider recorded minor outflows of $17 million.
Despite nine consecutive weeks of inflows into crypto funds, most issuers are still facing year-to-date (YTD) outflows. Grayscale leads the losses, with over $1.6 billion in outflows so far this year.
ProShares stands out as the only U.S. issuer without YTD outflows, instead recording $437 million in inflows year-to-date.
