Cryptocurrency Investment products recorded an additional week of influx last week, even if volatility persists across key digital assets, including Bitcoin and ether.
Global Crypto Exchange-Traded Products (ETP) recorded an influx of $1.03 billion for the trading week that closed on Friday, Coinshares reported Monday.
With the new influx, Crypto ETPS has continued to break annual (YTD) influx records, setting a new historic high of just under $19 billion, said James Butterfill, head of research at Coinshares.
Crypto ETPS’ managed assets (AUM) hit another new high, reaching $188 billion from $184.4 billion last week.
Bitcoin is leading the inflow at $790 million
Bitcoin (BTC) ETPS posted last week’s inflow, or $790 million, or 76% of the total inflow of Crypto ETP.
BTC ETP inflows have slowed down from the past three weeks, recording an average of $1.5 billion inflows each week, Batterfil said.
“Inflow moderation suggests that investors are becoming more cautious as Bitcoin approaches its highest price level ever,” he writes.
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Shift to ether ETF?
Ether (ETH)ETP continued to flow $225 million, marking the 11th consecutive week of inflow.
“Proportionally, this running weekly inflow averages 1.6% for AUM, significantly higher than 0.8% for Bitcoin,” Batafil observes, suggesting that “there was a significant change in the sentiment of investors in support of Ethereum.”
The majority of last week’s crypto influx was handled through BlackRock’s Crypto Funds. This saw $436 million inflows, or 42% of the inflows from issuers last week.
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