Record Inflows into Crypto Asset Investment Funds

In the cryptocurrency investment fund market last week, Bitcoin ETFs saw record inflows, reaching a total of $3.12 billion.

Cryptocurrency investment products recorded their largest weekly inflows in history, attracting $3.13 billion in funds. According to CoinShares data, total inflows since mid-September, when interest rates were first lowered in the U.S., amounted to $15.2 billion. Year-to-date, total inflows have reached a record level of $37 billion. Bitcoin continued to be the standout asset as record levels were achieved, significantly surpassing the $309 million drawn by U.S. Gold ETFs in their first year.

When looking at regional data, the $3.2 billion inflow in the U.S. market last week was balanced by outflows of $39.8 million, $84.1 million, and $17.1 million from Germany, Sweden, and Switzerland, respectively. Outflows from these countries were interpreted as an opportunity to take profits following recent price increases. However, a more positive sentiment prevailed in Australia, Canada, and Hong Kong, with inflows of $9 million, $31 million, and $30 million, respectively.

According to last week's report on Bitcoin and Altcoin funds, Bitcoin saw a net inflow of $3 billion. The surge in prices also increased interest in bear-focused Bitcoin investment products, leading to a new inflow of $10 million. On a monthly basis, the $58 million inflow into these products marked the largest inflow since August 2022. Solana funds outperformed Ethereum funds last week, registering an inflow of $16 million. However, year-to-date figures still lag behind Ethereum.

Among other altcoin funds, XRP, Litecoin, and Chainlink garnered attention with inflows of $15.2 million, $4.1 million, and $1.3 million, respectively. Multi-asset investment products experienced weekly outflows for the second consecutive time, totaling $10.5 million. This indicates that investors are focusing on specific cryptocurrencies rather than more diversified portfolios.