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 CoinSharesâ head of research, James Butterfill.
Assets under management (AUM) in crypto ETPs reached $188 billion, up from last weekâs $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.
âThe moderation in inflows suggests that investors are becoming more cautious as Bitcoin approaches its all-time high price levels,â 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.Â
âOn a proportional basis, weekly inflows during this run have averaged 1.6% of AUM, significantly higher than Bitcoinâs 0.8%,â Butterfill observed, suggesting that there has been a ânotable shift in investor sentiment in favour of Ethereum.â
The majority of crypto inflows last week were handled through BlackRockâs crypto funds, which saw $436 million in inflows, or 42% of all last weekâs inflows by issuers.
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