Last week was huge for crypto investments! A whopping $1.9 billion flowed into crypto investment products, marking the 15th week in a row of positive inflows. This shows institutions are still really interested in crypto, even with all the market ups and downs.
Record-Breaking Month
July is already smashing records, with over $11.2 billion in inflows so far – that’s more than the whole of December 2024! This surpasses the previous high of $7.6 billion, which was fueled by post-election optimism in the US.
Regional Differences
While the US and Germany saw massive inflows (over $2 billion combined), some other places like Brazil, Canada, and Hong Kong actually saw money flowing out (almost $270 million).
Ethereum’s Rise, Bitcoin’s Dip
Here’s where things get interesting: Ethereum completely dominated, taking in a massive $1.59 billion – the second-highest weekly inflow ever! This brings Ethereum’s year-to-date total to $7.79 billion, already surpassing its entire 2024 intake.
Bitcoin, on the other hand, saw a small outflow of $175 million. This difference between Ethereum and Bitcoin, along with other altcoins gaining traction, has some people talking about a possible “altcoin season.” But it’s too early to say for sure.
Altcoin Action
Several altcoins also saw significant inflows:
- Solana: $311 million
- XRP: $189 million
- SUI: $8 million
Litecoin and Bitcoin Cash, however, saw small outflows.
ETF Excitement?
The big buzz around potential spot Bitcoin ETFs in the US might be driving some of this altcoin interest. We’ve seen this before – speculation about ETFs can really boost inflows.
What’s Next?
The future of these inflows depends on a few things: what regulators do (especially the SEC), and what happens with the global economy. For now, it’s a fascinating situation with Ethereum leading the charge and Bitcoin lagging behind. We’ll be watching closely!