Cryptocurrency investment products saw record inflows last week, marking the 14th consecutive week of growth. #EarnFreeCrypto2024
CoinShares reported on Monday that global cryptocurrency exchange-traded products (ETPs) saw inflows of $4.4 billion for the week ending Friday.
Inflows coincided with Bitcoin reaching $119,059. According to CoinGecko, it first surged above $122,000 on July 14, then fell to around $116,000 intra-week low, ultimately closing the trading week around $120,000.
With new gains, year-to-date (YTD) inflows for crypto ETPs have surged to a new high of $27 billion, with total assets under management (AUM) surpassing $220 billion for the first time.
Ethereum ETP inflows exceed total for 2024
Ethereum at $3,785. CoinShares research director James Butterfill wrote in the report that ETPs set multiple records last week, with 2025 inflows exceeding the total for 2024, reaching $6.2 billion, while weekly inflows doubled the previous record to $2.12 billion.
The latest inflow of funds coincides with ETH's first breakthrough of $3,500 since early January. According to CoinGecko, after months of downward pressure, ETH dropped below $1,500 in April.
Butterfill noted: "The inflow of funds over the past 13 weeks currently accounts for 23% of Ethereum AUM."
Bitcoin's new highs won't disrupt ETP inflows
As BTC hits an all-time high, Bitcoin ETP inflows remain resilient, sharply contrasting with the slowdown observed in early July; Butterfill attributed this decline to increasing caution among investors as Bitcoin approached historical peaks.
According to the latest news, Bitcoin fund inflows last week reached $2.2 billion, accounting for 50% of total inflows into crypto ETPs.
Notable are SOL at $190.90, XRP at $3.57, and SUI at $4.00, with total inflows of $39 million, $36 million, and $9.3 million respectively.
Total outflow of funds from US issuers reached $200 million
Despite record inflows into crypto ETPs last week, some issuers still experienced slight outflows.
According to CoinShares, Cathie Wood's ARK Invest was the biggest loser among issuers, with total outflows reaching $120 million.
Related: Despite the rise in Bitcoin, cryptocurrency spot trading fell 22% in Q2: report
ARK's next-generation internet ETF also fueled the sell-off, with $8.7 million worth of ARK 21Shares Bitcoin ETF (ARKB) sold last Tuesday.
Other US issuers, including Fidelity Investments and ProShares, experienced slight outflows of $49 million and $25 million respectively.
