Crypto funds notch $1.9B of inflows as Bitcoin(BTC) rebounds
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Crypto funds notch $1.9B of inflows as Bitcoin (BTC) rebounds

Nxtgen Virtue , ,

With a new week of inflows, crypto ETPs have set a new year-to-date high of $13.2 billion. Cryptocurrency investment products resumed their multi-week inflow run, with Bitcoin trading around fresh highs and Ether briefly exceeding $2,800 for the first time since February.

Global crypto exchange-traded products (ETPs) saw $1.9 billion in inflows in the trading week ended Friday, bringing the nine-week run to $12.9 billion, CoinShares announced on Monday.

With the latest inflows, crypto ETPs set a new YTD record of $13.2 billion. James Butterfill, CoinShares’ head of research, wrote the following. Total assets under management (AUM) in cryptocurrency ETPs increased to $179 billion from $175.9 billion last week.

Bitcoin is back topping the inflows 

After two weeks of moderate withdrawals, Bitcoin (BTC) investment products experienced huge gains, topping the chart last week with $1.3 billion in inflows. Short-Bitcoin products also had small inflows of $3.7 million, but their AUM remained low at $96 million.

Last week, ETPs received $583 million in inflows, keeping their strong trend and ranking second in terms of ETH ($2,627). According to CoinShares’ Butterfill, the inflows represented the ETH product’s greatest gains since February, with the strongest single-day inflows.

After three weeks of outflows, XRP is now at $2.19. Last week, investment products saw $11.8 million in inflows, while Sui products got a further $3.5 million influx. 

BlackRock’s crypto ETF inflows surge to $1.5 billion

BlackRock’s iShares exchange-traded funds (ETFs) led the gains among issuers last week, with $1.5 billion in inflows, bringing YTD inflows beyond $14.2 billion.

All US-issued crypto ETFs saw slight weekly inflows of up to $95 million, while the European fund CoinShares XBT Provider experienced minor outflows of $17 million.

Although crypto funds have witnessed nine weeks of inflows, almost all issuers are still experiencing YTD outflows, with Greyscale leading the way with more than $1.6 billion in outflows. ProShares, a US issuer, is the only one with no year-to-date outflows, with inflows totalling $437 million.

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