Despite the lack of significant price changes in cryptocurrencies, investor interest remains high. With $1.04 billion flowing into crypto exchange-traded products (ETPs), the market demonstrates confidence.
Investments in Bitcoin Reach $790 Million
Bitcoin attracted $790 million in investments last week, accounting for 76% of total inflows into crypto ETPs. However, this figure is down from the previous three weeks, which averaged $1.5 billion in inflows. James Butterfill, head of research at CoinShares, suggests this may indicate that investors are becoming more cautious as Bitcoin approaches record highs.
Ethereum Sees Growing Institutional Interest
Ethereum is also showing consistent interest from investors, recording $226 million in inflows into ETPs last week, marking the eleventh consecutive week of positive movement. Over this period, total inflows into Ethereum reached $2.85 billion, indicating a growing interest in the asset. These inflows make up 1.6% of Ethereum’s assets under management, which is double that of Bitcoin’s 0.8%.
Overall Activity in the Digital Asset Market
Total assets under management in crypto investment products hit a record of $188 billion. Trading volume remained healthy at $16.3 billion. The United States led with $1 billion in inflows, while Germany and Switzerland also showed growth. Institutional interest continues to rise, with $436 million invested in BlackRock’s funds.
Investor interest in cryptocurrencies remains steady amidst a few hiccups and changes in volumes. Bitcoin retains its lead, but Ethereum is advancing confidently, signaling potential further investments in the digital asset sector.
