Crypto funds hit $2.5 billion weekly inflow record amid growing spot Bitcoin ETF interest
Crypto funds at asset managers such as BlackRock, Bitwise, Fidelity, Grayscale, ProShares and 21Shares registered record inflows totaling $2.45 billion globally last week, according to CoinSharesâ latest report
exchange-traded funds, year-to-date inflows to digital asset investment products now stand at $5.2 billion.
Accelerating inflows indicate increasing interest in US spot Bitcoin ETFs
The United States continued its regional dominance, accounting for 99% of the weekly inflows, totaling $2.4 billion. Switzerland and Germany-based funds registered modest inflows of $16.7 million and $13.3 million, respectively, while Sweden witnessed the largest regional outflows of $26.3 million.
Unsurprisingly, bitcoin investment products also dominated, again accounting for 99% of last weekâs inflows. However, some investors increased their short positions, with $5.8 million worth of inflows added to short-bitcoin products.
Ether led in terms of altcoin-based funds, witnessing $21.1 million in inflows. Avalanche funds saw inflows of $1 million, and Chainlink and Polygon products both added $900,000 â continuing their consistent weekly inflow streak.
However, Solana investment products did not fare so well, registering $1.6 million in outflows with the network's recent downtime dampening sentiment, Butterfill argued.
Blockchain equity ETF investors also took profits last week, leading to outflows totaling $167 million, Butterfill added.
