Crypto ETPs Print New AUM And Inflow Highs: CoinShares

Cryptocurrency investment products clocked another week of inflows last week, even as volatility persisted across major digital assets, including Bitcoin and Ether.

Global crypto exchange-traded products (ETPs) recorded $1.03 billion of inflows for the trading week ended Friday, CoinShares reported on Monday.

With the fresh inflows, crypto ETPs continued breaking year-to-date (YTD) inflow records, setting a new historical high just under $19 billion, said CoinShares’ head of research, James Butterfill.

Assets under management (AUM) in crypto ETPs reached $188 billion, up from last week’s $184.4 billion, marking another new high.

Bitcoin leads inflows with $790 million

Bitcoin (BTC) ETPs led the way last week, posting $790 million of inflows, or 76% of total crypto ETP inflows last week.

BTC ETP inflows slowed from the previous three weeks, which averaged $1.5 billion of inflows weekly, Butterfill noted.

“The moderation in inflows suggests that investors are becoming more cautious as Bitcoin approaches its all-time high price levels,” he wrote.

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Shift to Ether ETFs?

Ether (ETH) ETPs followed with $225 million of inflows, marking an 11th consecutive week of inflows. 

“On a proportional basis, weekly inflows during this run have averaged 1.6% of AUM, significantly higher than Bitcoin’s 0.8%,” Butterfill observed, suggesting that there has been a “notable shift in investor sentiment in favour of Ethereum.”

The majority of crypto inflows last week were handled through BlackRock’s crypto funds, which saw $436 million in inflows, or 42% of all last week’s inflows by issuers.

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