Cryptocurrency investment products saw strong inflows last week as Bitcoin surged to a record high of $118,000. According to CoinShares, global crypto exchange-traded products (ETPs) brought in $3.7 billion for the week ending Friday, raising year-to-date inflows to a new high of $22.7 billion—up 20% from $19 billion the week prior.

Total assets under management in crypto funds also reached a record $211 billion. Bitcoin ETPs led the inflows, contributing $2.7 billion, which represented 73% of the total. This marked a strong rebound from the previous week’s $790 million, following a three-week average of $1.5 billion.

After the slowdown in inflows the previous week, CoinShares’ head of research James Butterfill noted that investors had shown caution as Bitcoin approached new highs.

However, sentiment strengthened quickly, with Bitcoin ETF daily inflows surpassing $1 billion the following day after BTC hit new all-time highs above $112,000, according to SoSoValue. These inflows lifted Bitcoin ETPs’ total assets under management to $179.5 billion, reaching 54% of the assets held in gold ETPs for the first time.

Ethereum ETPs recorded their 12th consecutive week of inflows, totaling $990 million—their fourth-largest on record. “In relative terms, Ethereum’s inflows over the past 12 weeks account for 19.5% of its AUM, compared to 9.8% for Bitcoin,” Butterfill said.

Meanwhile, XRP ETPs saw the largest weekly outflows at $104 million, while Solana funds attracted $92.6 million in new capital.

Inflows were widely distributed across U.S. issuers. BlackRock’s iShares crypto funds led with $2.4 billion, followed by Fidelity with $400 million and ARK Invest with $339 million. CoinShares, one of the few European issuers, reported minor outflows of $16 million for the week.

Sources:

https://cointelegraph.com/news/crypto-funds-inflows-bitcoin-meteoric-rise

https://blog.coinshares.com/volume-242-digital-asset-fund-flows-weekly-report-4ad0c63a8def