Key Takeaways
- Crypto investment products tallied a record-breaking $5.95 billion in net inflows last week.
- Assets under management have reached an all-time high of $254 billion.
- U.S. spot Bitcoin ETFs command $164.5 billion in net assets, representing 6.74% of BTC’s market cap.
Crypto markets are rallying after a week of historically huge inflows into digital asset investment products, which have pushed Bitcoin (BTC) to a new all-time high (ATH).
This could now be a signal that the fabled bullish month of “Uptober” is here.
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A Historical Week
According to the latest CoinShares report , digital asset investment products recorded a robust $5.95 billion in net inflows last week, the largest since records began.
Notably, Bitcoin products experienced their highest-ever weekly inflows, reaching $3.55 billion. Interestingly, despite BTC’s upward trajectory, short investment products were largely ignored.
Ethereum products tallied $1.48 billion in weekly net inflows, bringing year-to-date (YTD) inflows to a new high of $13.7 billion.
The report cites the U.S. Federal Reserve’s delayed interest rate cut (due to government shutdown), on top of weak deployment data, plus market stability concerns over the aforementioned shutdown.
Regardless of the mixed signals, investors were bullish, driving total assets under management (AuM) to an all-time high of $254 billion.
U.S. investors took charge and poured $5 billion into the markets, another new weekly record. Switzerland posted a record $536 million in inflows, and Germany posted its second-largest weekly inflows ever with $312 million.
Solana (SOL) products also hit a new weekly record with $706.5 million last week, raising YTD inflows up to $2.58 billion. Ripple (XRP) saw $219.4 million in inflows.
Bitcoin and Ethereum ETFs
According to SoSoValue data, Bitcoin ETFs wrapped last week with a gigantic $985.08 million in daily net inflows, the third-highest single day of inflows on record.
This propelled weekly inflows to $3.24 billion, their second-largest week of inflows ever.
Ethereum funds performed well, pulling in $1.3 billion last week. However, they’ve not managed to break any records with these inflows.
In August, ETH ETF monthly flows totaled $3.87 billion, following July’s $5.43 billion. In September, bearishness took hold, yielding just $285.74 million in monthly inflows.
