Last week was huge for crypto investments, with a whopping $3.75 billion flowing into various funds. This is the fourth-largest weekly inflow ever recorded, showing a big shift after a period of slower activity.
Ethereum Dominates the Inflow
The big news? Ethereum completely stole the show. It snagged a massive $2.87 billion – that’s a staggering 77% of the total inflow! This brings Ethereum’s total inflow for the year to a record-breaking $11 billion. Compared to Bitcoin’s inflow of $552 million, Ethereum’s performance was exceptionally strong. In fact, Ethereum’s inflow represented 29% of its total assets under management (AUM), compared to Bitcoin’s 11.6%.
Other altcoins also saw some gains, with Solana and XRP receiving significant inflows. However, Litecoin and Toncoin experienced minor outflows.
The US is the Main Player
Almost all the money ($3.73 billion) came from the US. Canada, Hong Kong, and Australia also saw some inflows, but they were much smaller. Brazil and Sweden, on the other hand, saw money flowing out.
What Does it All Mean?
This massive inflow, particularly into Ethereum, might reflect growing confidence in its role in decentralized finance (DeFi) and other blockchain applications. While the overall numbers are positive, it’s worth noting that most of the money went to a single provider, which highlights some unevenness in the market. It will be interesting to see if Ethereum can keep this momentum going and if Bitcoin will catch up. The overall growth in AUM, however, shows that institutional investors are still very interested in crypto, despite some recent price swings.