Crypto investment inflows hit $41B YTD – Will the market gain more?

Crypto investment products hit $3.85 billion in weekly inflows, breaking previous records.
XRP leads altcoins with $134.3 million inflows, while Cardano attracts $5.2 million.

Crypto investment products have shattered records, witnessing unprecedented weekly inflows of $3.85 billion, as highlighted in CoinShares’ latest report on digital asset flows.

This surge has propelled year-to-date inflows to an impressive $41 billion, with assets under management (AuM) soaring to $165 billion.

Interestingly, these figures suggest that the inflows have significantly surpassed the previous benchmarks set in 2021, which saw $10.6 billion in total inflows and $83 billion in AuM.

How did Bitcoin and Ethereum perform?

Notably, Bitcoin [BTC]-focused investment products attracted $2.56 billion, while Ethereum [ETH]-focused products marked a historic $1.15 billion inflow, underscoring the growing demand for exposure to leading cryptocurrencies.

The report noted,

“Bitcoin saw inflows of US$2.5bn bringing YTD inflows to US$36.5bn. Short bitcoin has seen tepid inflows of US$6.2m, historically we have seen much higher inflows after sharp price rises suggesting investors remain cautious on betting against the recent strong price momentum.”

As of the latest update from CoinMarketCap, BTC was trading at $97,270.30 after a drop of 1.27% in the past 24 hours.

Whereas, ETH was trading at $3,697.06 after a drop of 4.08% in the same period.