Bitcoin, Ethereum Lead Record $5.95 Billion Inflows Into Crypto Funds

Crypto investment vehicles have seen a record $5.95 billion in inflows. Here’s how flows have broken down between Bitcoin, Ethereum, and ￰0￱ Funds Led The Latest Record Crypto Market Inflows In its latest weekly report on digital asset fund flows, CoinShares has shared the latest data related to cryptocurrency investment fund netflows for the past ￰1￱ investment funds here include not just the US spot exchange-traded funds (ETFs) , but also other vehicles like CoinShares’ own XBT Provider, an exchange-traded product (ETP). Digital asset investment products like ETFs allow investors in the traditional market to gain exposure to Bitcoin and other coins without having to directly own tokens on the ￰2￱ the US SEC approved the BTC spot ETFs last year, these vehicles have grown to be a cornerstone of the sector, attracting demand from investors who had previously stayed away due to digital asset exchanges and wallets being ￰3￱ week was a milestone one for digital asset investment funds, as the market witnessed net inflows of a whopping $5.95 billion, a new ￰4￱ terms of flows by country, the US products dominated with around $5 billion in net ￰5￱ and Germany followed with $563 million and $312 million in positive flows, ￰6￱ the above table, it’s visible that the US-based BlackRock’s iShares ETFs saw the strongest inflows at $2.5 billion.

Fidelity’s Wise Origin Bitcoin Fund came second at $692 ￰7￱ it comes to individual assets, Bitcoin-related products were at the top of the sector, gathering an all-time high (ATH) inflows of $3.55 ￰8￱ massive capital injections into BTC investment vehicles have come as the cryptocurrency’s price has rallied to a new ATH . Ethereum, which also saw a surge last week, witnessed almost $1.5 billion in ￰9￱ and XRP products set notable records of their own at $706 million and $219 million, respectively. Though, while these two altcoins saw this attention, others like Litecoin and Cardano only gained minimal net ￰10￱ for what was behind the record-setting week for digital asset funds, CoinShares noted in the report: We believe this was due to a delayed response to the FOMC interest rate cut, compounded by very weak employment data, as indicated by Wednesday’s ADP Payroll release, and concerns over US government stability following the ￰11￱ now remains to be seen how flows related to ETFs and other investment vehicles will develop this week, particularly in the context of Bitcoin already having reached a new ￰12￱ Price Bitcoin touched $125,700 over the weekend, but its price has since seen a small decline to $124,500.