Cryptocurrency investment products saw a record $3.85 billion in weekly inflows last week, pushing year-to-date inflows to $41 billion and bringing total assets under management (AuM) to over $165 billion, per data from CoinShares. The U.S. led the way with $3.6 billion, followed by Switzerland at $160 million, Germany at $116 million, Canada at $14 million, and Australia at $10 million.
Bitcoin products dominated the inflows, contributing $2.5 billion, pushing the year-to-date total for Bitcoin to $36.5 billion. Ethereum also saw a significant increase, with $1.2 billion in weekly inflows, marking its largest inflow ever. These Ethereum products have attracted over $1.3 billion in two weeks, fueled by growing institutional adoption. This growth came at the expense of Solana, which saw outflows of $14 million, marking its second consecutive week of losses.
XRP also gained traction, with $134.3 million in inflows, driven by optimism surrounding a potential XRP ETF launch in the U.S. XRP’s price surged to $2, its highest in seven years, before pulling back slightly to $2.13. Over the past month, XRP has surged 337%, further strengthening its market position.
Short Bitcoin products saw a modest $6.2 million in inflows, suggesting that investors remain cautious despite Bitcoin’s price rally, which recently surpassed $100,000. CoinShares research noted that while Bitcoin has experienced a strong price increase, inflows into short products have remained low, indicating investor reluctance to bet against the current momentum.
The inflows into U.S.-based Bitcoin ETFs, including BlackRock’s IBIT and Fidelity’s FBTC, also contributed significantly to the record high. The IBIT alone saw over $3 billion in inflows, and Fidelity’s FBTC added $262 million. These Bitcoin ETFs now hold more Bitcoin than its creator, Satoshi Nakamoto.
Other altcoins also saw inflows, including Cardano’s ADA, which attracted $5.2 million, and smaller amounts for Binance’s BNB, Litecoin, and Chainlink. However, products offering exposure to multiple digital assets faced outflows of $6.3 million.
Last week’s record inflows highlight the continued growth of institutional interest in digital assets. Ethereum’s rise reflects its expanding utility and adoption, while XRP benefits from the prospect of a new ETF. Bitcoin remains the dominant force in the space, with institutional investment continuing to drive its price and overall market growth. Despite some pullbacks, the broader trend remains bullish for the crypto market.
