Bitcoin and Ethereum Lead Record Weekly Inflows While Solana Faces Outflows

Digital asset investment products received a record-breaking $3.85 billion in weekly inflows last week.

This surge pushed year-to-date (YTD) inflows to $41 billion, up 1,722% from 2023, which had total inflows of $2.25 billion, according to a report by CoinShares. Meanwhile, assets under management (AUM) climbed to an all-time high of $165 billion, a 221% increase so far from last year’s total of $51.4 billion.

The increase in investments reflects a growing trend of digital assets becoming a regular part of traditional financial portfolios, signaling that cryptocurrencies are being recognized as a legitimate asset class.

Bitcoin contributions totalled $2.5 billion, bringing year-to-date (YTD) inflows to $36.5 billion, up 1,786% from its 2023 total of $1.2 billion. Ethereum recorded its largest weekly inflows ever, totaling $1.2 billion. This is already a 1,438% increase from last year’s total of $78 million. Ethereum YTD inflows equal $3.35 billion.

In contrast, Solana faced $14 million in outflows, bringing its YTD inflows to $88 million so far. This is a substantial decrease from 2023 when inflows totalled $167 million around this time of year.

Multi-asset funds also faced outflows of $6.3 million last week, bringing the current YTD flows to $433 million. In 2023, multi-asset funds recorded a YTD total of $18 million in outflows, according to CoinShares.

Record-Breaking Week

The significant inflows into BTC and ETH funds highlight renewed confidence in the cryptocurrency sector’s long-term growth. Experts say this recent surge was fueled by both pro-crypto President-elect Donald Trump’s election win on Nov. 5 and BTC surpassing $100,000 last week.

Since Trump was elected to office, around $10 billion has flowed into BTC spot exchange-traded funds (ETFs), according to SoSo Value data.

Trump has also appointed several Bitcoin proponents to key financial positions, such as Paul Atkins, who was selected to chair the Securities and Exchange Commission (SEC). He also tapped venture capitalist and former PayPal Chief Operations Officer David Sacks as White House advisor on artificial intelligence (AI) and cryptocurrency matters.