Cryptocurrency investment products experienced strong inflows in the last trading week, while Bitcoin soared to an all-time high of $118,000.
Global encryption Exchange Products (ETP) Coinshares recorded $3.7 billion inflows in the trading week ending Friday Report on Monday.
Fresh earnings further increased the year-end inflow (YTD) of cryptocurrency ETP, soaring to a new high of $22.7 billion, up about 20% from last week’s $19 billion.
The total market value of assets in crypto funds has also broken the ground, with first-time asset management (AUM) reaching $21.1 billion.
Bitcoin ETP lead inflows $2.7 billion
Bitcoin (BTC) ETP led last week, releasing $2.7 billion inflows, accounting for 73% of the total inflows of crypto ETP last week.
New billions of dollars inflows mark the $790 million inflow last weekAfter an average weekly inflow of $1.5 billion over the past three weeks.
After last week’s slowdown inflows, James Butterfill, head of research at Coinshares, proposed that investors are becoming increasingly cautious about Bitcoin’s approaching new highs.
Nevertheless, ETP sentiment only surged further with the daily inflow of Bitcoin Trading Trade Funds (ETFs) The next day, it jumped $1 billion the next day BTC prints new all-time highs of over $112,000 According to Sosovalue data, last Wednesday.
Butterfill noted that the new inflow would bring the total AUM of Bitcoin ETP to $179.5 million, adding that AUM is with 54% of the total assets held in Gold ETP for the first time.
Ether ETP see 12 consecutive weeks of inflow
Ether (Ethereth) ETP inflows for the 12th consecutive week, totaling $990 million. According to Coinshares, this marks their fourth largest inflow.
“Relatively relative, Ethereum has accounted for 19.5% of its AUM inflows over the past 12 weeks, compared with 9.8% of Bitcoin,” Butterfill said.
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On the other hand, xrp(XRPETP has the largest weekly outflow, totaling $104 million, while Solana has a massive inflow of $92.6 million.
Inflows all US issuers
The latest weekly inflows are widely distributed among all U.S. issuers, and Blackrock’s iShares crypto fund led the payment, attracting $2.4 billion.
Fidelity Investments and ARK Invest subsequently provided $400 million and $339 million, respectively.
Meanwhile, Coinshares is one of the few European issuers, totaling $16 million this week.
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