TLDR
- Crypto funds recorded $1.9 billion in inflows last week, following the previous week’s $3.3 billion gain.
- Bitcoin and Ether led the inflows with $977 million and $772 million respectively.
- The total assets under management in global crypto ETPs reached a new high of $40.4 billion.
- Bitcoin ETFs extended their streak of inflows to four weeks, totaling $3.9 billion in the past month.
- Ether’s year-to-date inflows have reached a record $12.6 billion, reflecting strong investor confidence.
Crypto funds recorded a second consecutive week of inflows, totaling $1.9 billion. This follows the $3.3 billion inflow from the week prior. Bitcoin and Ether continued to lead the way, with large inflows. Strong demand also came for Solana and XRP. The total assets under management in crypto ETPs have now reached $40.4 billion.
Bitcoin ETFs Reach $3.9B in Four Weeks
Bitcoin funds have extended their streak to four weeks. Inflows last week totaled $977 million. This builds on the $2.4 billion in inflows the previous week. The four-week total for Bitcoin ETFs has now reached $3.9 billion. This sustained demand highlights strong investor confidence in Bitcoin despite market fluctuations.
James Butterfill, head of research at CoinShares, noted,
“Bitcoin’s continued strength reflects investor optimism amid a recovering market.”
He further emphasized that Bitcoin remains a favored investment despite market volatility. Investors are actively seeking exposure to Bitcoin, pushing the demand for Bitcoin exchange-traded products (ETPs) higher.
Ethereum ETPs Attract $772M as ETH Surpasses $4,600
Ether also saw a robust inflow last week, attracting $772 million. Ether’s year-to-date total now stands at $12.6 billion, according to CoinShares data. This is a record for the Ethereum-based ETPs, reflecting strong investor interest.
With the growing demand for Ether, the price of ETH briefly surpassed $4,600. This was after starting the week at around $4,500. Investors continue to view Ethereum positively, driven by expectations surrounding Ethereum’s future growth and utility.
“Ether’s performance suggests confidence in Ethereum’s evolving role in the decentralized finance ecosystem,” Butterfill stated.
As Ether’s price continues to rise, the demand for its ETPs also grows, showing the market’s increasing appetite for Ethereum-based investments.
Solana and XRP Drive Broader Crypto Fund Inflows
In addition to Bitcoin and Ether, Solana and XRP also saw strong investor demand. Solana funds recorded $127 million in inflows last week. XRP funds attracted $69 million, reflecting growing interest in alternative digital assets.
The performance of these altcoins shows that investor interest is diversifying beyond Bitcoin and Ether. While Bitcoin and Ether dominate, other digital assets like Solana and XRP are gaining traction. These inflows highlight the broadening appeal of crypto assets beyond the two largest cryptocurrencies.
The rise in demand for Solana and XRP may signal a shift in investor preferences, with a growing focus on projects that offer unique value propositions. With these altcoins increasingly gaining favor, crypto funds are seeing broader inflows across various assets.
