CoinShares' weekly report reveals that cumulative year-to-date inflows into crypto-related investment products have surged to a record high of $14.9 billion.

This milestone was reached following a third consecutive week of inflows totaling $1.05 billion. Notably, trading volumes for ETPs rose by 28% to $13.6 billion during the reporting period, marking a significant departure from the subdued activities seen in previous weeks.

James Butterfill, CoinShares' head of research, highlighted that recent price increases in the market have propelled the total value of assets under management for digital asset ETPs to $98.5 billion.

Breaking down the flows, Bitcoin-related ETPs accounted for 99% of the total inflows, recording $1.01 billion last week. Surprisingly, short Bitcoin products experienced another week of outflows, totaling $4.3 million.

Butterfill noted that the substantial inflows into BTC ETPs indicate a return of positive sentiment to the market. He remarked:

"The inflows suggest that sentiment is turning broadly positive despite the recent price rises. This is likely due to investors interpreting the FOMC minutes and recent macro data as mildly dovish."

These positive sentiments also extended to Ethereum-related investment products, which saw their highest inflows at $36 million since March. Butterfill suggested that these inflows "were likely an early reaction to the approval of ETH ETFs in the United States."

Additionally, other large-cap digital assets like Solana, Chainlink, and Litecoin recorded cumulative inflows exceeding $10 million during the reporting period.

While sentiments in the United States appear to positively impact investors' interests in crypto products, the same cannot be said for ETFs in Hong Kong. CoinShares reported that since the initial positive launch of Bitcoin spot-based ETFs in Hong Kong (which saw $300 million in the first week), there have been further outflows of $29 million last week. This brings the total outflows in the city-state to approximately $80 million this month, the highest among countries.