Cryptocurrency investment products maintained strong inflows last week, attracting $882 million as global crypto funds edged closer to their all-time high asset levels.

Over the past four weeks, global crypto exchange-traded products (ETPs) have seen $6.3 billion in inflows, representing 93% of total year-to-date (YTD) inflows, according to data from European digital asset manager CoinShares.

Total inflows for the year now stand at $6.7 billion, approaching the record of $7.3 billion reached in early February, according to CoinShares’ head of research, James Butterfill.

Thanks to continued investor interest, US-based crypto exchange-traded funds (ETFs) reached a record $62.9 billion in cumulative net inflows since their launch in January 2024, surpassing the previous peak of $61.6 billion recorded in February, Butterfill noted in his May 12 update.

Globally, assets under management (AUM) in crypto funds climbed to $169 billion, now just 2.5% below the all-time high of $173.3 billion recorded in the final week of January, according to CoinShares.

However, the recent $882 million inflows marked a slowdown from $2 billion in the first week of May and $3.4 billion in the last week of April.

Bitcoin remained the dominant asset, attracting $867 million in inflows last week.

Year-to-date, Bitcoin’s inflows reached $6.6 billion, with AUM rising to $146 billion.

Inflows to Ethereum investment products were comparatively modest, totaling $1.5 million last week, with AUM reaching $12 billion.

Among altcoins, Sui emerged as the top performer, with its ETPs receiving $11.7 million in inflows.

Conversely, Solana was the only altcoin to register outflows, losing $3.4 million last week, which pushed its month-to-date outflows to $2.9 million.

CoinShares reported that inflows were once again heavily concentrated in BlackRock’s iShares crypto products, which attracted $1 billion last week alone.

Since the start of the year, BlackRock has accumulated $8.1 billion in inflows, significantly outpacing the overall industry total of $6.7 billion.

Meanwhile, Grayscale and Bitwise continued to face outflows, with $168 million and $27 million leaving their funds last week, respectively.

On the positive side, Fidelity and ARK reversed recent outflows, posting inflows of $62 million and $46 million.

The sustained bullish momentum in the crypto ETP market has been supported by a broader rally in cryptocurrencies, with Bitcoin surpassing $100,000 on May 8 for the first time since January.

The overall crypto market capitalization surged to nearly $3.5 trillion, though still 11% below the record $3.9 trillion reached in mid-December 2024, according to CoinGecko.

“We believe the sharp increase in both prices and inflows is driven by a combination of factors: a global rise in M2 money supply, stagflationary risks in the US and several US states approving Bitcoin as a strategic reserve asset,” CoinShares’ Butterfill wrote.

At the time of writing, Bitcoin was trading at $104,407, slightly below the all-time high above $106,000 recorded on December 17, 2024.

Sources:

https://cointelegraph.com/news/us-crypto-etfs-smash-new-record-amid-4-week-inflow-streak

https://blog.coinshares.com/volume-233-digital-asset-fund-flows-weekly-report-f38946027bd6

https://www.coingecko.com/en/global-charts