Crypto investment products saw another positive week in terms of inflows, which hit a record high of $14.9 billion for the year so far, as per data from CoinShares.
In the latest report examining flows into digital asset investment products, CoinShares noted that Bitcoin-related investment products made up around 96% of the $1.05 billion worth of inflows last week.
Meanwhile, short-bitcoin-related products saw $4.3 million outflows, indicating that investor sentiment had turned towards the upside for the leading digital asset.
On the back of the U.S. Securities and Exchange Commission (SEC) approving key filings for ether spot exchange-traded funds (ETFs), Ethereum investment products saw $36 million worth of inflows for the week, making it the biggest week of inflows since March.
The price of bitcoin is currently sitting at around $68,600, and ether is trading at the $3,800 mark. According to CoinShares, the recent positive price action has pushed assets under management (AUM) across crypto funds to $98.5 billion.
Traditional finance is also starting to pay closer attention to digital asset markets, with a particular focus on the growing momentum around spot crypto ETFs. A research report from Wall Street brokerage Bernstein , viewed by CoinDesk, suggested that bitcoin and ether spot ETFs could grow to a $450 billion market.
Over the next two years, analysts at Bernstein estimate that crypto funds could see over $100 billion worth of inflows.
They also noted that a nod to a proof-of-stake cryptocurrency like ether to be traded in an ETF would have a positive impact on the wider market for crypto tokens.
“This has positive implications for other blockchain tokens, as they may follow the same precedent, and solana (SOL) could benefit,” the analysts said.
May 29, 03:25am: This story has been updated to correct the figure taken from the Bernstein report. The amount the bitcoin and ether spot ETFs market could grow to is $450 billion, not $250 billion as originally published.
