$3,124,000,000 Hits Bitcoin ETFs In Largest Weekly Inflows on Record: CoinShares

Digital assets manager CoinShares says institutional investors dropped over three billion dollars into crypto products last week.

In its latest Digital Asset Fund Flows  report , CoinShares says that institutional crypto investment products saw a surge in net inflows of $3.13 billion last week, a new inflow record.

“Digital asset investment products saw the largest weekly inflows on record, totaling US$3.13bn, bringing total inflows since mid-September, when interest rates were first cut in the US, to US$15.2bn. Year-to-date inflows now stand at a record $37bn, driven primarily by Bitcoin, far outpacing the debut of US Gold ETFs, which attracted just $309 million in their first year.”

The US led the world regionally in inflows at $3.2 billion. Germany, Sweden, and Switzerland cut into the inflows with a total combined $141 million in outflows.

“More positive sentiment was seen in Australia, Canada and Hong Kong, with inflows of US$9m, US$31m and US$30m respectively.”

Bitcoin ( BTC ) took the lion’s share of profits at $3 billion. Solana ( SOL ) surpassed rival smart contract platform Ethereum ( ETH ) with $16 million in inflows compared to ETH’s $2.8 million. XRP , Litecoin ( LTC ), and Chainlink ( LINK ) raked in $15 million, $4.1 million, and $1.3 million, respectively, while multi-asset investment vehicles, those investing in more than one crypto, brought in inflows to the tune of $10.5 million.

Generated Image: Midjourney
Shutterstock: ImageFlow