Crypto investment products record another weekly streak of inflows totaling $3.23 billion, with Bitcoin, Ethereum, and XRP emerging as the biggest gainers.
Leading digital asset manager CoinShares disclosed this in its latest report, providing insights into crypto-backed investment vehicles. According to the report, crypto investment products recorded an astounding $3.23 billion in inflows last week.
10th Consecutive Inflows with Bitcoin Leading the Charge
This marked the 10th consecutive week of positive flows into crypto investment products. Consequently, the total year-to-date (YTD) flows soared to a jaw-dropping $44.5 billion, four times the figure recorded in previous years. In addition, the asset under management (AUM) across all crypto investment products stands at $167.41 billion.
Expectedly, Bitcoin-backed investment products received the most inflows, accounting for $2 billion of the total weekly inflows.
Since the U.S. election, Bitcoin has significantly boosted total inflows into crypto investment products, attracting about $11.5 billion.
Per the data, Bitcoin’s month-to-date (MTD) inflow stands at $4.67 billion, with YTD inflows of $38.58 billion. With the latest inflow of $2 billion in the past week, Bitcoin’s AUM soared to $135.02 billion.
Ethereum Registers Seventh Consecutive Weekly Inflows
Meanwhile, Ethereum saw its seventh consecutive weekly inflow last week after investment vehicles tied to ETH registered $1.09 billion in inflows. These products have attracted $3.7 billion in investments within the past seven weeks.
The MTD flows into Ethereum products stand at approximately $2.25 billion, while YTD inflows have soared to $4.45 billion.
XRP and Other Assets Weekly Inflows
Interestingly, XRP also saw strong institutional interest over the past week, as its weekly inflows hit $145 million. CoinShares attributed this surge to growing anticipation for a U.S.-listed spot-based ETF tied to the asset.
As reported earlier, several asset managers, including WisdomTree and Bitwise, have officially applied with the SEC to launch XRP ETFs in the United States.
Although the SEC has not acknowledged any of the applications exclusively focused on XRP, speculation indicates that the agency will approve at least one of these filings under a new SEC leadership.
Other crypto assets with positive inflows in the past week include Short Bitcoin ($14.6 million), Polkadot ($3.7 million), Litecoin ($2.2 million), Cardano ($1.9 million), Solana (SOL), BNB ($700,000), and Chainlink ($700,000).
Conversely, multi-asset investment products ended the past week in outflows totaling $31 million, according to data from CoinShares.
Regional Flows
In terms of regional flows, the United States accounts for $3.13 billion of the total inflows recorded in the past week. Most of these investments went into U.S.-listed ETFs linked to Bitcoin.
While investors poured $1.51 billion into the BlackRock iShares Bitcoin Trust (IBIT), they also invested $598 million in the Fidelity Wise Origin Bitcoin ETF (FBTC).
Furthermore, BlackRock and Fidelity U.S.-listed Ethereum ETFs attracted investments worth $523 million and $258 million, respectively, in the past week.
Other countries with substantial inflows over the past week include Switzerland, Germany, Brazil, Hong Kong, Canada, and Australia. They saw positive netflows worth $35.6 million, $32.9 million, $24.7 million, $9.7 million, $4.9 million, and $3.8 million, respectively.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
