According to The Block, crypto investment products saw net inflows for the fourth consecutive week, totaling $882 million, as U.S. ETFs reached an accumulation milestone, with data from asset management company CoinShares.
Although Bitcoin funds accounted for the majority of inflows, Sui base products attracted $11.7 million in funding last week, outperforming major altcoins and surpassing Solana year-to-date.
According to data from CoinShares, crypto investment products operated by asset management companies such as BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares saw a global net inflow of $882 million last week.
This marks the fourth consecutive week of growth, with the total inflow year-to-date now reaching $6.7 billion, approaching the peak of $7.3 billion set in February. James Butterfill, head of research at CoinShares, stated in a report on Monday: 'We believe that the sharp increase in price and inflows is driven by multiple factors: the increase in the global M2 money supply, stagflation risks in the U.S., and several U.S. states approving Bitcoin as a strategic reserve asset.'
In a week when Bitcoin's price rose to $105,000 and increased by over 10%, the leading cryptocurrencies in the GMCI 30 index rose by 21.7%, with the total assets under management of the fund reaching $169.3 billion, once again approaching record levels.
Bitcoin dominates but Sui performs outstandingly
Last week, Bitcoin-based funds continued to dominate, with a net inflow of $867 million.
According to data compiled by The Block, the net inflow for U.S. spot Bitcoin ETFs exceeded $920 million, while outflows in other regions reduced the global total.
The U.S. market attracted a total of $840 million in net inflows last week, with U.S.-listed ETFs reaching a record cumulative total of $62.9 billion, surpassing the previous high of $61.6 billion in early February, Butterfill noted.
Crypto funds in Germany and Australia attracted net weekly inflows of $44.5 million and $10.2 million, respectively. However, digital asset investment products in Sweden, Canada, and Hong Kong experienced net outflows of $12 million, $8 million, and $4.3 million, respectively.
Despite Ethereum achieving a significant price increase of 41.1% last week, the inflow for Ethereum investment products globally was only $1.5 million, primarily affected by substantial outflows from U.S. ETFs.
The Sui base fund performed outstandingly, bringing in $11.7 million in weekly inflow, while Solana investment products saw outflows of $3.4 million. Year-to-date, the total inflow for Sui funds has reached $84 million, surpassing Solana's $76 million.
