Crypto funds post $3.7B inflows as Bitcoin soars to new highs

Cryptocurrency concern products experienced beardown inflows during the past trading week, amid Bitcoin surging to historical highs of $118,000.

Global crypto exchange-traded products (ETPs) recorded $3.7 cardinal of inflows for the trading week ending Friday, CoinShares reported connected Monday.

The caller gains further accrued crypto ETPs’ year-to-date (YTD) inflows, which surged to a caller precocious of $22.7 billion, up astir 20% from past week’s $19 billion.

The full marketplace worth of assets successful crypto funds besides broke caller ground, with assets nether absorption (AUM) for the archetypal clip reaching $211 billion.

Bitcoin ETPS pb inflows with $2.7 billion

Bitcoin (BTC) ETPs led the mode past week, posting $2.7 cardinal of inflows, accounting for 73% of full crypto ETP inflows past week.

The caller multibillion-dollar inflows marked a notable betterment from last week’s $790 cardinal of inflows, aft averaging $1.5 cardinal successful play inflows during the erstwhile 3 weeks.

Crypto ETP flows by plus arsenic of Friday (in millions of US dollars). Source: CoinShares

Following past week’s inflow slowdown, CoinShares’ probe caput James Butterfill suggested that investors were becoming progressively cautious astir Bitcoin approaching caller highs.

Still, ETP sentiment lone surged further arsenic regular inflows successful Bitcoin exchange-traded funds (ETFs) jumped supra $1 cardinal the adjacent day, aft BTC printed caller all-time highs supra $112,000 past Wednesday, according to SoSoValue data.

Daily Bitcoin ETF inflows successful the past trading week. Source: SoSoValue

The caller inflows drove Bitcoin ETPs’ full AUM to $179.5 billion, Butterfill noted, adding that the AUM equaled 54% of full assets held successful golden ETPs for the archetypal clip ever.

Ether ETPs spot 12 consecutive weeks of inflows

Ether (ETH) ETPs posted their 12th consecutive week of inflows, totaling $990 million. This marked their fourth-largest inflows connected record, according to CoinShares.

“In comparative terms, Ethereum’s inflows implicit the past 12 weeks relationship for 19.5% of its AUM, compared to 9.8% for Bitcoin,” Butterfill said.

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On the different hand, XRP (XRP) ETPs were deed with the largest play outflows, totalling $104 million, portion Solana’s recorded beardown inflows of $92.6 million.

Inflows dispersed crossed each US issuers

The latest play inflows were broadly distributed crossed each US-based issuers, with BlackRock’s iShares crypto funds starring the pack, attracting $2.4 billion.

Fidelity Investments and ARK Invest followed with $400 cardinal and $339 million, respectively.

Crypto ETP flows by issuer arsenic of past Friday (in millions of US dollars). Source: CoinShares

Meanwhile, CoinShares was among the fewer European issuers to acquisition insignificant outflows, totaling $16 cardinal for the week.

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