Digital asset investment products recorded an influx of $882 million last week, marking fourth consecutive week of profit, according to a new report from Coinshares. This strongest weekly inflow since early March brings a total of one-year (YTD) inflow to $6.7 billion. The figures are nearing a February peak of $7.3 billion, which proves new institutional interest in the crypto market.
This trend reflects increased confidence in the sector driven by rising market prices and increased adoption of exchange-selling products associated with digital assets. Last week’s performance represents the strongest weekly influx since early March.
Bitcoin ETFS rake in the majority of crypto investments in new institutions
Bitcoin led all digital assets with an influx of $867 million, making up the majority of its weekly total. Since the launch of US-listed spot Bitcoin ETFs in January 2024, these products have accumulated a net inflow of $62.9 billion.
Related: As IBIT, Tech and European funds lead, US ETF inflows exceed $47 billion
This surpassed the previous set of $61.6 billion in February, highlighting the ongoing institutional desire for Bitcoin exposure. While Bitcoin remains a dominant asset, short Bitcoin investment products have not been seen leaking just $1.5 million, suggesting that investors’ sentiment remains largely bullish in BTC.
Ethereum is behind its institutional appeal. Sui surpasses Solana in the Altcoin influx
However, Ethereum investment products resulted in just $1.5 million inflows last week. Despite the recent prominent price rallies at ETH, Ethereum has yet to draw the same level of institutional attention as Bitcoin.
Of the other altcoins, Sui saw the best influx of other Altcoins and subtracted $11.7 million last week. This brings YTD’s inflow to $84 million, overtaking Solana, and now at $76 million.
Solana, Avalanche, and ChainLink have seen either negligible profits or small spills. These mixed results suggest that while some investors are diversifying, others will consolidate their Bitcoin positions and choose emerging projects.
The United States controls global crypto investment flows. Quoted macro factors
Regionally, the US led the $840 million inflow. Germany continued at $44.5 million, while Australia donated $10.2 million. Meanwhile, Canada and Hong Kong recorded modest outflows of $8 million and $4.3 million, respectively.
Related: US Spot Bitcoin ETFs are seeing the biggest inflow since January as BTC hits $94,000
Coinshares attributes influx to macroeconomic factors, including an increase in global M2 money supply and increased concerns about stagflation in the US. In addition to this institutional trust, several US states have recently approved Bitcoin as a strategic reserve asset.
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