Cryptocurrency investment products saw substantial inflows last week despite ongoing volatility in major digital assets.
CoinShares data indicates global exchange-traded products (ETPs) gained $1.03 billion during the week ending Friday.
This continued a trend of breaking year-to-date inflow records, with total inflows for the year now approaching nearly $19 billion, setting a new historical high according to CoinShares Research Head James Butterfill.
Assets Under Management (AUM) in crypto ETPs reached an all-time high of $188 billion, up from $184.4 billion the previous week.
Bitcoin Dominates ETP Inflows
Bitcoin (BTC) exchange-traded products were the primary beneficiary, recording $790 million in inflows during the week, accounting for 76% of total crypto ETP inflows.
While inflows saw moderation compared to the previous three weeks (average $1.5 billion weekly), BTC ETP assets climbed closer to an all-time high.
Butterfill suggested investors are becoming cautious, noting “the moderation in inflows,” possibly due to BTC nearing its all-time high price levels.
Shift Towards Ethereum Observed?
Ethereum (ETH) ETPs attracted $225 million, capping an 11-week inflow streak. Butterfill observed a proportional shift in investor sentiment, noting average weekly inflows for ETH ETPs (1.6% of AUM) have been significantly higher than Bitcoin’s rate (0.8%).
BlackRock dominated the inflows, managing $436 million, or 42% of the week’s total inflows.
