Crypto ETFs Set Record With $62,900,000,000 Yearly Flows After Four Straight Green Weeks: CoinShares

Digital asset investment vehicles are setting record yearly flows after a month of inflows, according to leading crypto asset management firm CoinShares.

In its latest Digital Asset Fund Flows Weekly Report, CoinShares says that crypto exchange-traded products (ETPs) enjoyed nearly a billion dollars in inflows last week alone.

“Digital asset investment products recorded a fourth consecutive week of inflows, totaling US$882m globally. Year-to-date (YTD) inflows now stand at US$6.7bn, approaching the US$7.3bn peak reached in early February this year.

We believe the sharp increase in both prices and inflows is driven by a combination of factors: a global rise in M2 money supply, stagflationary risks in the US, and several US states approving Bitcoin as a strategic reserve asset.”

While Canada and Hong Kong saw $8 million and $4.3 million in outflows, the United States led the world with $840 million in inflows, followed by Germany and Australia at $44.5 million and $10.2 million, respectively.

Bitcoin (BTC), per usual, enjoyed the lion’s share of inflows.

“Bitcoin dominated inflows, attracting US$867m globally last week. It also reached a new milestone, as US-listed ETFs recorded cumulative net inflows of US$62.9bn since their launch in January 2024, surpassing the previous high of US$61.6bn set in early February.”

SUI ETPs enjoyed $11.7 million in inflows while Ethereum (ETH) vehicles saw only $1.5 million.

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The post Crypto ETFs Set Record With $62,900,000,000 Yearly Flows After Four Straight Green Weeks: CoinShares appeared first on The Daily Hodl.