Cryptocurrency investment products saw another week of strong inflows, despite ongoing volatility in major digital assets like Bitcoin and Ether.
According to CoinShares, global crypto exchange-traded products (ETPs) brought in $1.03 billion in inflows during the trading week ending Friday.
These latest inflows pushed year-to-date (YTD) totals to a new all-time high of nearly $19 billion, noted James Butterfill, head of research at CoinShares.
Assets under management (AUM) in crypto ETPs also hit a new peak, rising to $188 billion from $184.4 billion the previous week.
Bitcoin dominates inflows with $790 million
Bitcoin ETPs led the market last week with $790 million in inflows, accounting for 76% of total crypto ETP inflows.
However, James Butterfill noted that BTC ETP inflows were lower than the previous three-week average of $1.5 billion per week.
“The moderation in inflows suggests that investors are becoming more cautious as Bitcoin approaches its all-time high price levels,” he wrote.
Shift to Ether ETFs?
Ether ETPs followed with $225 million in inflows, marking their 11th consecutive week of positive momentum.
“On a proportional basis, weekly inflows during this streak have averaged 1.6% of AUM—double that of Bitcoin’s 0.8%,” noted James Butterfill, highlighting a “notable shift in investor sentiment toward Ethereum.”
BlackRock’s crypto funds handled the bulk of last week’s activity, attracting $436 million in inflows, which accounted for 42% of all issuer inflows.
