Inflows into Crypto Investment Products Reach $2.7 Billion in a Week

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According to a recent report by CoinShares, asset managers including BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares received a total of $2.7 billion in inflows for their crypto funds last week, setting a new record.

This surpassed the previous peak of $2.45 billion in February, mainly driven by the growing interest in US spot Bitcoin exchange-traded funds.

As a result, total inflows for this year have reached $10.3 billion, only slightly less than the total inflows of $10.6 billion for the entire year of 2021, as stated by CoinShares’ Head of Research James Butterfill.

Additionally, there was also a new record in weekly trading volume, reaching $43 billion, which is almost 50% higher than the previous peak set the week before at $30 billion.

These new developments, coupled with recent price increases in the crypto market, have led to a record high of $94.4 billion in total assets under management, with a 14% increase in just one week and an 88% increase year-to-date, according to CoinShares.