Crypto investment products experienced substantial inflows last week, reaching $1.84 billion, the second-largest weekly inflows this year, according to CoinShares' latest report.

This inflow coincided with a record trading volume of over $30 billion, sometimes accounting for 50% of global Bitcoin daily trading volumes on trusted exchanges.

James Butterfill, head of research at CoinShares, noted that the total assets under management for crypto ETPs, after recent price increases, are now near the all-time high of $82.6 billion, just below the $86 billion peak from November 2021.

US dominance continues

The US continues to lead in crypto investment product flows, largely driven by the introduction of Bitcoin ETFs, with $1.88 billion in net inflows last week.

Globally, responses were mixed. Switzerland saw $20 million in inflows, while Sweden, Germany, and Canada experienced outflows of $32 million, $35 million, and $23 million, respectively.

Crypto ETP flows

Global ETP flows (Source: CoinShares)

Bitcoin products dominated, with $1.72 billion in inflows, accounting for 94% of the total last week.

CryptoSlate Insight reported that Bitcoin held in global ETPs surpassed one million. These ETPs saw an inflow of 133,000 BTC over the past 90 days, mainly due to the success of US spot Bitcoin ETFs.

Despite the market rally, $22 million was invested in products betting against Bitcoin's price rise.

Ethereum also saw significant inflows during the market surge, totaling $85 million, its largest weekly influx since mid-July 2022. However, Ethereum products' assets under management stand at $14.6 billion, down from a peak of $23.7 billion.

Additionally, Polygon, XRP, and Chainlink recorded inflows of $7.6 million, $2.5 million, and $1.6 million, respectively. Conversely, Solana experienced its third consecutive week of outflows, totaling $12 million.