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Bullish Trend in Crypto Sees Record $1.76bn Inflows in 10 Weeks

Things are looking up for the industry, with digital asset investment products experiencing an influx of $176m last week.

As reported by CoinShares, this marks the 10th successive week of inflows totaling $1.76bn, equivalent to 4% of assets under management (AuM).

This surge stands as the most significant since October 2021, coinciding with the introduction of the futures-based ETF in the US.

That said, despite a 107% increase in total Assets under Management (AuM) this year, reaching $46.2bn, the statistic remains below the peak of $86.6bn in 2021.

Trading volumes in ETPs sustained their prominence, hitting $2.6bn for the week, constituting 12% of total Bitcoin volumes.

Exchange Traded Products (ETPs) encompass securities that mirror underlying assets, an index, or alternative financial instruments.

Functioning akin to stocks, ETPs are traded on exchanges, subject to daily and intraday price variations.

As with any derivative, the valuation of ETPs is contingent upon the performance of the underlying investments they are designed to replicate.

Regionally, attention centred on Canada, Germany, and the US, witnessing inflows of $79m, $57m, and $54m, respectively. Conversely, Hong Kong experienced minor outflows totaling $15m.

Despite the Asian region’s comparatively small AuM and limited ETPs, it stands out as one of the few regions witnessing net outflows year-to-date.

Bitcoin emerged as the primary beneficiary, witnessing inflows of $133m.

Interestingly, short-bitcoin, following a three-week outflow trend, experienced inflows of $3.6m last week.

Ethereum also recorded a substantial $31m in inflows, extending its positive streak to five weeks, accumulating $134m.

For the first time this year, Ethereum’s net flows turned positive at $10m, following an extended period of negative sentiment.

Blockchain equities has also seen seven consecutive weeks of inflows persisted, with last week’s $17.4m inflow marking the most substantial since July 2022.

* Original content written by Coinlive. Coinbold is licensed to distribute this content by Coinlive.