Crypto investment products log second-largest weekly inflows of $3.7 billion amid bitcoin all-time high rally: CoinShares

Crypto investment products managed by asset managers such as BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares recorded another $3.7 billion in net inflows globally last week, according to CoinShares data.

The figure represents the second-largest weekly inflows on record after the $3.9 billion added in early December. Alongside the ongoing crypto rally as bitcoin continues its all-time high run, the inflows take total assets under management at the funds to a record $211 billion, CoinShares Head of Research James Butterfill noted in a Monday report — exceeding the $200 billion mark for the first time. "Notably, July 10 recorded the third-highest daily inflow ever," he added.

It marks the 13th consecutive week of net inflows for global crypto funds, totaling $21.8 billion, and brings year-to-date inflows to a new high of $22.7 billion. Trading volumes also reached $29 billion last week — twice this year's weekly average — Butterfill noted.

Bitcoin and Ethereum products dominate amid mixed regional flows

Regionally, the U.S. led with net inflows of $3.7 billion, followed by Switzerland and Canada crypto investment products, with $65.8 million and $17.1 million, respectively. However, this was offset by net outflows of $85.7 million, $15.7 million, and $7.5 million from funds in Germany, Sweden, and Brazil.

Bitcoin-based funds registered their fifth consecutive positive week, accounting for 73% of the net inflows, adding $2.7 billion, and driving their AUM to $179.5 billion. "For the first time, this equals 54% of the total AUM held in gold ETPs," Butterfill highlighted. In contrast, short-bitcoin investment products showed minimal activity.

The U.S. spot Bitcoin ETFs accounted for the majority of that figure, attracting $2.72 billion last week, according to data compiled by The Block, offset by outflows from other regions.

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Meanwhile, Ethereum-based funds added another $990 million — the fourth largest on record — to post their 12th consecutive week of inflows — the longest streak of inflows since mid-2021. "In relative terms, Ethereum’s inflows over the past 12 weeks account for 19.5% of its AuM, compared to 9.8% for Bitcoin," Butterfill said.

The U.S. spot Ethereum ETFs also dominated this figure, accounting for $908.1 million of last week's inflows.

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In terms of other altcoin-based investment products, Solana funds recorded the next highest weekly inflows of $92.6 million, while XRP products saw the largest outflows, totaling $104 million.