With their recent surge, inflows into crypto investment products now total $1.14 billion, the third-highest level on record, according to CoinShares data.
The combined Inflows for the past seven weeks have topped $1 billion, CoinShares has found.
Total assets under management (AUM) rose 9.6% last week, when $293 million in inflows were recorded, and have nearly doubled since the beginning of the year to $44.3 billion.
The total is the highest since May 2022, when the collapse of the Terra ecosystem wiped out $50 billion in value from the crypto industry.
Bitcoin (BTC) continued to see the most inflows last week with $240 million, and the digital asset is now at $1.08 billion worth of inflows this year. And bitcoin exchange traded products (ETP) trading volumes composed roughly 19.5% of bitcoin trading volumes, “suggesting ETP investors are participating much more in this rally compared to 2020/21,” CoinShares wrote.
Ethereum (ETH) had $49 million worth of inflows, the highest amount since August 2022. The second positive week for ETH was likely due to asset manager BlackRock filing its Ethereum ETF plan with Nasdaq.
Solana (SOL) has also continued to rally, with $12.4 million coming in last week. The year-to-date flow total stands at $121 million.