According to recent reports, cryptocurrency investment products are continuing to see robust inflows, with an impressive $882 million being attracted last week. This surge brings the total assets in global crypto funds close to their all-time high.
Data from European crypto investment firm CoinShares shows that global crypto exchange-traded products (ETPs) have seen a whopping $6.3 billion of inflows over the past month. This accounts for 93% of total inflows so far this year. The total year-to-date inflows now sit at $6.7 billion, just shy of the record $7.3 billion reported in early February.
In the United States, crypto exchange-traded funds (ETFs) have seen an unprecedented level of demand from investors. Cumulative net inflows since their launch in January 2024 have reached a record $62.9 billion, beating the previous high of $61.6 billion set in February.
This ongoing influx of investment has brought the total assets under management (AUM) in global crypto funds to $169 billion, a mere 2.5% away from the historic record of $173.3 billion set in January.
However, the recent $882 million inflow shows a slight slowdown from the $2 billion seen in the first week of May and the $3.4 billion reported in the last week of April.
As for specific cryptocurrencies, Bitcoin (BTC) saw the lion’s share with $867 million in inflows last week, bringing its total AUM to $146 billion. Ethereum (ETH), on the other hand, saw a modest $1.5 million inflow, taking its total AUM to $12 billion.
Among the altcoins, Sui (SUI) came out on top with its ETPs seeing $11.7 million of inflows last week, while Solana (SOL) saw outflows totaling $3.4 million.
According to CoinShares, BlackRock’s iShares products continued to outperform others, drawing in $1 billion of inflows last week and a staggering $8.1 billion year-to-date.
In the midst of this positive investor sentiment, the total crypto market capitalization has soared to nearly $3.5 trillion, only 11% short of the record $3.9 trillion set in mid-December 2024.
“The sharp increase in both prices and inflows is driven by a combination of factors: a global rise in M2 money supply, stagflationary risks in the US, and several US states approving Bitcoin as a strategic reserve asset,” wrote CoinShares’ research head, James Butterfill.
