Last week saw a remarkable surge in trading activity for digital asset investment products globally, reaching an unprecedented $30 billion in trading volume. CoinShares data highlights that U.S.-based spot Bitcoin exchange-traded funds (ETFs) were the primary drivers behind this record volume. Leading asset managers offering these investment products include renowned firms such as Ark Invest, Bitwise, BlackRock, Fidelity, Grayscale, ProShares, and 21Shares.

According to James Butterfill, CoinShares' Head of Research, at times, the trading volumes in these digital investment products accounted for up to 50% of global Bitcoin daily trading volumes from reputable exchanges. U.S. spot Bitcoin ETFs alone recorded a remarkable weekly trading volume of $22.3 billion. Moreover, Wednesday marked a significant milestone for these ETFs, witnessing the highest daily volume since their launch, totaling over $7.6 billion.

In addition to the impressive trading volumes, crypto funds saw their second-largest weekly net inflows, totaling a substantial $1.84 billion. The majority of these inflows were directed towards Bitcoin investment products, with 94% amounting to $1.72 billion. Despite a few setbacks such as the nearly $1.5 billion outflows from Grayscale's higher fee fund, the U.S. spot Bitcoin ETFs maintained their lead, attracting significant weekly inflows of $3.2 billion.

Butterfill highlighted that despite Bitcoin's 20% price increase, short investors continued to enter the market, injecting an additional $22 million into short-Bitcoin investment products. Meanwhile, other regions experienced mixed results with inflows and outflows.

Closing the week, total assets under management approached an all-time high of $82.6 billion, inching closer to the early November peak of $86 billion. Additionally, Ether-based investment products witnessed their largest weekly inflows since July 2022, totaling $85 million, while Solana products recorded outflows of $12 million for the third consecutive week.