Crypto Investment Products Hit $1.84B in Weekly Inflows, Bitcoin Dominates at 94%

Crypto investment products witnessed the second-largest weekly inflow on record, amassing $1.84 billion, according to a recent report from CoinShares. The report highlights that 94% of these inflows were directed towards Bitcoin, totaling $1.73 billion. 

Accompanying the substantial inflows, trading volumes in investment products reached an all-time high of over $30 billion for the week. Notably, these volumes, at times, constituted 50% of the global daily trading volumes of Bitcoin on reputable exchanges. 

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Total Assets Under Management (AuM) Nearing All-Time Highs

Following recent price increases, total assets under management (AuM) are on the verge of reaching the all-time high, standing at an impressive $82.6 billion. This figure falls just shy of the peak recorded in early November 2021 at $86 billion.

The report from CoinShares also sheds light on the exceptional performance of U.S. spot Bitcoin ETFs, which recorded a remarkable weekly trading volume of $22.3 billion. On Wednesday alone, daily volumes reached over $7.6 billion in trading.

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Altcoins Making Waves

While Bitcoin continues to dominate, Ethereum experienced its largest weekly inflows since mid-July 2022, totaling $85 million. However, despite this influx, the assets under management for Ethereum currently stand at $14.6 billion, still a notable distance from the peak of $23.7 billion.

In contrast, Polygon saw inflows of $7.6 million, representing 22% of its AuM. On the flip side, Solana experienced outflows of $12 million, indicating some investor reshuffling in the altcoin space.

An earlier CoinShares report from February 19 had already signaled the market's vitality, citing an influx of $2.45 billion in crypto asset investment products from Feb. 12 to Feb 16. This figure set a new milestone and contributed significantly to the year-to-date inflows, reaching an astonishing $5.2 billion.

Bitcoin is trading at $65,100, up 4.44% in the last 24 hours.