Last week, top crypto-related investment products recorded a massive $2.7 billion inflow, with Bitcoin (BTC) products leading the way.
According to the latest report from CoinShares, crypto investment products saw an astonishing amount of capital flow into crypto investment products last week as the market continued its upward trend.
Specifically, these products recorded approximately $2.7 billion in inflows last week, bringing year-to-date (year-to-date) total inflows to approximately $10.3 billion.
It's worth mentioning that the total inflows since the beginning of this year are just $300 million shy of the total inflows in 2021, the peak of the previous bull market.
Bitcoin products had the most inflows
As with every other week, Bitcoin-based products accounted for the majority of the total. Inflows into Bitcoin products reached $2.63 billion last week alone, bringing year-to-date asset flows to $9.96 billion.
In particular, inflows into Bitcoin-based products were fueled by investments in two major Bitcoin spot-based ETFs, the BlackRock and Fidelity BTC funds.
BlackRock's iShares ETF saw weekly inflows of $2.07 billion, while Fidelity's Bitcoin fund attracted $1.34 billion worth of investments during the same period.
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In addition to BlackRock and Fidelity Bitcoin funds, other BTC ETFs belonging to Ark Invest, 21Shares, and ProShares also saw inflows of $187 million and $189 million, respectively.
While the majority of Bitcoin Spot ETFs recorded inflows, Grayscale Investments' BTC Fund witnessed negative flows amounting to $1.65 billion over the past week.
Top crypto asset performance
Meanwhile, investment products related to other crypto assets such as Solana (SOL), Cardano (ADA), and XRP saw inflows of $23.6 million, $0.8 million, and $1.5 million, respectively.
However, data shows that the Ethereum (ETH) product recorded $2.1 million in outflows over the past week.
Other statistics
In addition, trading volume this week reached $43 billion, breaking the previous week's record of $30 billion.
According to regional investment, the United States received the most inflows, totaling $2.8 billion. Similarly, Switzerland, Brazil, and Australia attracted smaller weekly inflows of approximately $20.6 million, $17.5 million, and $5.3 million, respectively.
Furthermore, due to the rise in cryptocurrency prices, total assets under management (AUM) soared to $94.41 billion. In particular, cryptocurrency prices have soared recently due to increased interest in digital assets among TradeFi investors.
BTC hit a new all-time high of $72,282 early today. The top asset achieved this feat ahead of the highly anticipated Bitcoin halving event, which is expected to take place in mid-April.
However, most other crypto assets have yet to break the previous ATH record set in 2021. Bitcoin is trading at $72,262 at the time of writing, up 4.1% over the past day.
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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the personal opinions of the author and do not reflect the opinions of The Crypto Basic. We encourage our readers to conduct thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.
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