Last week saw a massive influx of cash into cryptocurrency investment products, according to CoinShares. Institutional investors poured over $3 billion into the market, setting a new record for weekly inflows.
Record-Breaking Inflows
CoinShares’ report highlights a remarkable six-week streak of inflows totaling a staggering $10.5 billion. This brings the year-to-date total to a record-breaking $10.8 billion. The total assets under management briefly hit an all-time high of $187.5 billion earlier in the week. CoinShares suggests that investors are seeking diversification in the face of growing concerns about the US economy, particularly following Moody’s downgrade and the subsequent rise in treasury yields.
Where the Money Went
The United States dominated the inflows, receiving $3.2 billion last week alone. Other notable regions included Australia ($10.9 million), Hong Kong ($33.3 million), and Germany ($41.5 million). Switzerland, however, saw outflows of $16.6 million.
Bitcoin (BTC) was the star performer, attracting $2.9 billion in inflows – a quarter of all inflows for 2024. Interestingly, some investors saw the recent price increases as an opportunity to bet against Bitcoin, with short-Bitcoin products seeing their highest weekly inflow since December 2024 ($12.7 million).
Ethereum (ETH) also saw significant inflows at $326 million, while Solana (SOL) received a more modest $4.3 million. XRP, however, experienced a surprising $37.2 million in outflows, ending an impressive 80-week inflow streak.
Disclaimer
This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies. Investing in crypto is risky, and you could lose money.
