Cryptocurrency Investment Products See Weekly Inflows of $1.84B, Bitcoin Dominates 94%

According to a recent report by CoinShares, cryptocurrency investment products have achieved the second-highest weekly inflow on record, totaling $1.84 billion. Notably, 94% of these inflows are directed toward Bitcoin, amounting to $1.73 billion.

As substantial funds flow into the market, investment product trading volumes have reached an all-time high of over $30 billion this week. Remarkably, at times, these volumes account for 50% of the global daily trading volume on well-known exchanges.

Assets under Management (AuM) are also approaching historical highs. With recent price surges, AuM is poised to reach an impressive $82.6 billion, slightly below the peak of $86 billion recorded in early November 2021.

CoinShares’ report highlights the outstanding performance of the U.S. spot Bitcoin ETF, with a weekly trading volume of $22.3 billion. Remarkably, this ETF alone surpassed $7.6 billion in trading volume on Wednesday.

Altcoins Make Waves

While Bitcoin continues to dominate, Ethereum experienced its largest weekly inflow since mid-July 2022, totaling $85 million. However, despite significant inflows, Ethereum’s managed assets currently stand at $14.6 billion, still a considerable distance from its peak of $23.7 billion.

In contrast, Polygon saw inflows of $7.6 million, constituting 22% of its managed assets. On the other hand, Solana experienced an outflow of $12 million, indicating a reshuffling of investments in the altcoin space.

CoinShares’ early report from February 19th already signaled market vitality, as cryptocurrency asset investment products saw an influx of $2.45 billion from February 12th to February 16th. This milestone significantly contributed to the staggering $5.2 billion in total inflows year-to-date.

Bitcoin’s trading price stands at $65,100, reflecting a 4.44% increase in the past 24 hours.

Sentiment: Positive