The latest report from CoinShares reveals $2.45 billion in weekly inflows into Bitcoin and Ethereum products. Meanwhile, the United States leads the region with 99% of inflows, or $2.4 billion. The excitement around BTC ETFs has caused more and more institutional investors to jump into the crypto space.
Accelerating inflows indicate increased interest in US spot BTC ETFs
cryptokoin.comAs you follow from , interest in the spot Bitcoin ETF is growing exponentially. According to the latest report from CoinShares, crypto funds at asset managers such as BlackRock, Bitwise, Fidelity, Grayscale, ProShares and 21Shares recorded record total inflows of $2.45 billion worldwide last week.
Year-to-date inflows into digital asset investment products currently stand at $5.2 billion, dominated by new US spot BTC exchange-traded funds. CoinShares Head of Research James Butterfill said that with recent price increases, assets under management at crypto investment firms are now $67 billion. He also noted that this is the highest level since December 2021 at the peak of the last bull market.
The United States continued its regional dominance, accounting for 99% of weekly inflows, totaling $2.4 billion. Funds based in Switzerland and Germany recorded modest inflows of $16.7 million and $13.3 million, respectively. Sweden witnessed the largest regional outflow with $26.3 million. According to Butterfill, declining outflows from incumbent funds, such as Grayscale’s converted GBTC fund, as well as significantly accelerating net inflows, indicate increased interest in new US spot BTC ETFs.
Ethereum and these 5 altcoin investment products see inflow
Unsurprisingly, Bitcoin investment products also accounted for 99% of inflows last week. Thus, it became dominant in this market again. However, some investors increased their short positions. Thus, there was an inflow of $5.8 million worth of short Bitcoin products. Etherum (ETH) led the way in terms of altcoin-based funds, witnessing inflows of $21.1 million. Avalanche (AVAX) funds saw inflows of $1 million. Additionally, Chainlink (LINK) and Polygon (MATIC) both added $900,000. This showed that it was continuing its consistent streak of weekly entries. Additionally, Litecoin (LTC) and Ripple (XRP) products also managed to attract funds.
Corporate money is out of SOL and ADA
However, according to the latest report, the situation of Solana investment products was not good. It experienced an outflow of $1.6 million due to the network’s recent outage. In addition, Cardano (ADA) investment products have seen significant outflows. Blockchain stock ETF investors also made profits last week, Butterfill noted. He also added that it led to a total outflow of $167 million.
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