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Crypto investment products experienced a historic surge in inflows last week, as Bitcoin’s price approached the $100,000 mark. According to data from CoinShares, crypto investment funds saw a record $3.13 billion in weekly inflows, bringing the total inflows since September to $15.2 billion. Year-to-date inflows have now reached an unprecedented $37 billion, a significant milestone that surpasses early adoption figures for other asset classes, such as U.S. gold exchange-traded funds (ETFs), which only attracted $309 million in their first year.
The surge in inflows was primarily driven by Bitcoin, which accounted for the majority of the new investments, attracting $3 billion in just one week. This reflects the growing enthusiasm for Bitcoin as its price nears the $100,000 threshold. Despite Bitcoin’s dominance, there was also some interest in short-Bitcoin products, which saw $10 million in inflows. This represents the highest monthly inflow to short-Bitcoin products since August 2022, signaling that some investors are hedging against the ongoing Bitcoin rally.
However, regional sentiment showed mixed trends. While U.S.-based funds saw a net inflow of $3.2 billion, European markets experienced net outflows of $141 million. This was largely due to investors in countries like Germany and Switzerland taking profits after recent price highs. In contrast, markets in Australia, Canada, and Hong Kong saw positive flows, contributing $9 million, $31 million, and $30 million, respectively.
In addition to Bitcoin, there was notable interest in altcoins. Solana outpaced Ethereum with $16 million in weekly inflows, compared to Ethereum’s more modest $2.8 million. XRP, Litecoin, and Chainlink also saw considerable demand, attracting $15 million, $4.1 million, and $1.3 million in inflows, respectively. However, multi-asset investment products faced a second consecutive week of outflows, totaling $10.5 million.
The data underscores the continuing strong demand for crypto investment products, with Bitcoin being the primary beneficiary. Despite some regional variances, the overall trend points to growing interest in the crypto space, driven by both institutional and retail investors as they position themselves for potential future gains.
