Recent data from CoinShares shows that crypto-based investment products saw an astounding net inflow of $1.35 billion over the past week.
According to the data, the total net inflow recorded in the past three weeks hit a whopping $3.2 billion, reflecting growing confidence and positive sentiment across the market.
Assets Flows
Interestingly, over the past seven days alone, Bitcoin-related investment products accounted for $1.27 billion of the total $1.35 billion net inflow recorded during this period.
Conversely, short-bitcoin investment products witnessed a net outflow of $1.9 million. The report highlights that short-bitcoin exchange-traded products (ETP) have seen $44 million in net outflows since March 2024, representing 56% of its total assets under management (AUM).
Ethereum ranked as the second asset with the most net inflow over the past week, totaling $45.3 million. Recall that Ethereum witnessed three consecutive weeks of net outflows last month. As of July 1, Ethereum-based investment products saw net outflows totaling $60.7 million in one week, marking its largest outflow since August 2022.
Ethereum Surpasses Solana YTD Flows
However, Ethereum has moved past the days of back-to-back outflows. With investors showing significant interest in the cryptocurrency, Ethereum-based ETPs witnessed a $45.3 million inflow last week.
Following the development, Ethereum overtook Solana as the altcoin with the most inflow year-to-date (YTD) at $103 million. Solana ETPs, which saw an inflow of $9.6 million last week, now boast a YTD inflow of $71 million.
ETPs related to other altcoins, such as Binance Coin, Litecoin, XRP, Cardano, and Chainlink, also recorded inflows in the past week, respectively totaling $400,000, $2.2 million, $500,000, $400,000, and $700,000.
Regional Flows
In terms of regional flows, the United States witnessed the largest inflows, gulping $1.29 billion of the total $1.35 billion. Switzerland ranked behind the U.S., with $66.3 million worth of inflow recorded. Notably, Canada and Australia saw inflows of $7.8 million and $3.8 million, respectively.
Conversely, Sweden, Brazil, and Hong Kong recorded minor outflows of $600,000, $1.7 million, and $1.9 million in the past week. Furthermore, Germany also saw outflows worth $5.2 million.
Flows By Providers
Meanwhile, BlackRock’s iShares Bitcoin ETF recorded the largest inflow in the “flows by provider” segment. The top fund attracted investments worth $707 million out of the $1.35 billion inflows. Interestingly, Fidelity’s Bitcoin ETF ranked in the second position, with an inflow of $244 million.
Other providers that witnessed inflows in the past week include ARK 21 Shares ETF, Bitwise ETF, and 21 Shares AG. These providers recorded inflows worth $99 million, $71 million, and $49 million, respectively.
Grayscale’s investment products saw the most weekly outflow at $52 million. In addition, Purpose Investment and CoinShares XBT recorded minimal outflows of $1 million each.