Institutional investors are piling into crypto, with last week seeing the second-highest inflow ever recorded. CoinShares reports a massive $3.7 billion poured into digital asset investment products.
Billions Flowing In
This incredible surge marks the 13th consecutive week of inflows, totaling $21.8 billion over that period. Year-to-date, inflows have reached a staggering $22.7 billion, pushing total assets under management (AuM) past $200 billion for the first time, hitting a new record of $211 billion. Trading volume also exploded, reaching $29 billion – double the weekly average for the year. July 10th alone saw the third-highest daily inflow ever recorded.
Where the Money Went
The US led the charge, accounting for almost all the inflow at $3.7 billion. Switzerland and Canada also saw significant inflows, at $65.8 million and $17.1 million respectively. Germany, however, experienced outflows of $86 million.
Bitcoin Dominates
Bitcoin (BTC) was the star performer, attracting $2.7 billion in investment – a remarkable 54% of the total AuM held in gold ETPs. Interestingly, short Bitcoin investments saw minimal activity.
Other Winners
Ethereum (ETH) continued its strong run, with $990 million in inflows marking its 12th consecutive week of positive flow. XRP and Solana (SOL) also saw substantial inflows, receiving $104 million and $92.6 million respectively.
Disclaimer
This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies, as it’s a high-risk market.