Crypto Assets Record All-time High Weekly Inflows

A recent CoinShares report revealed that crypto assets recorded their largest weekly inflow last week, bringing in $3.13 billion. Total year-to-date inflows have now reached a record $37 billion.

Bitcoin led the charge with inflows of $3 billion. Its impressive rally last week to an all-time high of $99,655 caused further inflows worth $10 million into short-bitcoin investment products.

Further, Solana outperformed Ethereum, bringing in $16 million compared to Ethereum’s $2.8 million. Other altcoins, such as XRP, Litecoin, and Chainlink, brought in $20.4 million combined.

When Bitcoin Wins, Crypto Wins

U.S. Bitcoin Spot Exchange Traded Funds (ETFs) from asset managers, such as Blackrock, Bitwise, Proshares, Fidelity, Grayscales, and 21Shares, generated the most inflows, bringing in $3.1 billion. According to the report, Bitcoin assets under management (AUM) also reached a new peak of $153.3 billion.

“Year-to-date inflows now stand at a record $37bn, driven primarily by Bitcoin, far outpacing the debut of US Gold ETFs, which attracted just $309 million in their first year,” said James Butterfill, CoinShares’ Head of Research.

Solana Continues To Impress

Solana was the best performer after Bitcoin, notably outpacing Ethereum for weekly inflows last week. It brought in $16 million, while Ethereum brought in just $2.8 million. However, it has yet to surpass Ethereum on year-to-date flows.

Solana has been attracting institutional interest amid growing optimism that the SEC will approve a spot Solana ETF in the coming months.