Cryptocurrency funds see $1.9 billion inflow as Bitcoin recovers

With the inflow recorded in the new week, cryptocurrency ETPs have reached a new record for inflows this year of $13.2 billion.

Cryptocurrency investment products continue their multi-week growth streak as Bitcoin trades near new highs and Ether soars above $2,800 for the first time since February.

Global cryptocurrency exchange-traded products (ETPs) recorded $1.9 billion in inflows in the trading week ending Friday, bringing the nine-week inflow streak to $12.9 billion, CoinShares reported on Monday.

With new money flowing in, cryptocurrency ETPs have set a historical record for year-to-date (YTD) inflows of $13.2 billion, according to James Butterfill, director of research at CoinShares.

Total assets under management (AUM) in cryptocurrency ETPs increased to $179 billion compared to $175.9 billion from the previous week.

Bitcoin returns to lead inflows

After two weeks of small outflows, Bitcoin

investment products rebounded to see a significant increase, topping last week's chart with $1.3 billion in inflows. Short-Bitcoin products also recorded modest inflows of $3.7 million, although their AUM remains low at $96 million.

The second-ranking ETP by inflows maintained a positive trend with an additional $583 million last week. According to Butterfill of CoinShares, the inflow marks the largest increase for ETH products since February. #IsraelIranConflict