The latest report from digital asset management firm CoinShares indicated that global cryptocurrency investment products recorded a net inflow of $3.75 billion last week, marking the fourth largest weekly record ever. Notably, almost all buying pressure came from the U.S. market last week, and the biggest winner was undoubtedly Ethereum.
CoinShares Research Director James Butterfill stated that as of August 13, with the rise in cryptocurrency prices and continuous buying pressure, the assets under management (AUM) of global cryptocurrency funds reached a record high of $244 billion.
Ethereum fund dominates with a weekly inflow of $2.87 billion.
CoinShares' report indicated that Ethereum-related investment products saw an influx of $2.87 billion last week, accounting for 77% of the total inflows, setting a historical record. Since the beginning of the year, the net inflow for Ethereum funds has reached $11 billion, also a new high. In terms of asset management scale, the net inflow for Ethereum this year has reached 29% of AUM, far surpassing Bitcoin's 11.6%.
In comparison, the Bitcoin fund recorded a net inflow of only $552 million last week, underperforming Ethereum, but still maintained positive capital momentum. Among other competing coins, the Solana fund attracted $176.5 million; Ripple (XRP) investment products saw an inflow of $125.9 million; while Litecoin and TON experienced slight outflows of $4 million and $10 million, respectively.
The distribution of capital flows also showed a high concentration. CoinShares noted that of the funds that flowed in last week, as much as 99% (about $3.73 billion) came from the U.S. market, and almost all were directed towards BlackRock's 'iShares Ethereum Trust ETF (ETHA)'.
Other markets were relatively quiet, with Canada recording a net inflow of $33.7 million; Hong Kong about $20.9 million; and Australia at $12.1 million.
In contrast, Brazil and Sweden experienced capital outflows of $10.6 million and $49.9 million, respectively.
"Ethereum attracts $2.87 billion! Global cryptocurrency funds saw a weekly inflow of $3.75 billion, the fourth highest in history"; this article was first published by (BlockKe).
