Crypto Funds Weekly Inflows Reach $2.5B, Ether Tops Altcoin Investment

• With a total of $2.4 billion, or 99% of the weekly inflows, the US maintained its supremacy.
• When looking at altcoin-based funds, Ether came out on top with $21.1 million.

According to the most recent data from CoinShares, crypto funds managed by asset managers including BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares had record inflows of $2.45 billion worldwide last week. The new U.S. spot Bitcoin ETFs have been the most successful so far this year, bringing in $5.2 billion for digital asset investment products.

Assets under management at crypto investment companies have reached $67 billion, the biggest amount since December 2021, when the previous bull market was at its apex, according to CoinShares Head of Research James Butterfill. This is in addition to recent price rises.

Rapid Acceleration of Net Inflows

With a total of $2.4 billion, or 99% of the weekly inflows, the US maintained its regional supremacy. Small inflows of $16.7 million and $13.3 million were recorded by funds located in Switzerland and Germany, respectively, while the highest outflows of $26.3 million were recorded in Sweden.

Butterfill claims that there is growing interest in the new U.S. spot Bitcoin ETFs due to the rapid acceleration of net inflows and the decrease in withdrawals from incumbents like Grayscale’s converted GBTC fund.

The vast majority of last week’s funds also came from bitcoin investment products, as expected. On the other hand, $5.8 million worth of inflows were added to short-bitcoin instruments as some investors boosted their short holdings.

When looking at altcoin-based funds, Ether came out on top with $21.1 million. Butterfill said that the recent outage on the Solana network dampened sentiment, which contributed to the $1.6 million inflows from Solana investment products.

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