Crypto Investment Products See $3.7 Billion Inflows

According to CoinShares, crypto investment products managed by firms like BlackRock, Bitwise, and Grayscale experienced a remarkable inflow of $3.7 billion last week. This marks the second-largest weekly inflow recorded, following a previous high of $3.9 billion in December. With bitcoin reaching all-time highs, total assets managed by these funds have surged to a record $211 billion, surpassing the $200 billion milestone for the first time. CoinShares' Head of Research, James Butterfill, indicated that July 10 also saw the third-highest daily inflow ever. This marks the 13th consecutive week of positive inflows for global crypto funds, accumulating a total of $21.8 billion, with year-to-date inflows reaching $22.7 billion. Trading volumes were notably high, reaching $29 billion in the last week—double the year's weekly average. Regionally, the U.S. led the inflows with $3.7 billion, followed by Switzerland and Canada with smaller contributions. In contrast, there were net outflows from Germany, Sweden, and Brazil. Bitcoin funds represented 73% of the net inflows, adding $2.7 billion and bringing their total AUM to $179.5 billion. Remarkably, this amount now equals 54% of the total AUM held in gold ETFs. U.S. spot Bitcoin ETFs attracted the majority, gaining $2.72 billion, while Ethereum funds added $990 million, marking their 12th consecutive week of inflows—the longest streak since mid-2021. Solana products also saw significant growth with $92.6 million in inflows, whereas XRP products faced a $104 million outflow. Disclaimer: The content provided is for informational purposes and not intended as financial advice.