Crypto ETPs See $1.9 Billion Inflows As Bitcoin Surges To $110K

Cryptocurrency investment products continued their multi-week inflow streak as Bitcoin traded close to new highs and Ether briefly surged past $2,800 for the first time since February.

Global crypto exchange-traded products (ETPs) recorded $1.9 billion of inflows in the trading week ended Friday, moving a nine-week streak of inflows to $12.9 billion, CoinShares reported on Monday.

With the new inflows, crypto ETPs set a historic record of year-to-date (YTD) inflows of $13.2 billion, wrote CoinShares’ head of research, James Butterfill.

Total assets under management (AUM) in crypto ETPs edged up to $179 billion from last week’s $175.9 billion.

Bitcoin is back topping the inflows 

After two weeks of minor outflows, Bitcoin (BTC) investment products recovered to see significant gains, topping the chart last week with $1.3 billion of inflows. Short-Bitcoin products also recorded modest inflows of $3.7 million, though their AUM remained low at $96 million.

Ether (ETH) ETPs ranked second in inflows, maintaining their positive trend with a further $583 million in inflows last week. According to CoinShares’ Butterfill, the inflows marked ETH product’s largest gains since February, including their strongest single-day inflows.

Following a three-week run of outflows, XRP (XRP) investment products saw $11.8 million in inflows last week, while Sui (SUI) products saw a further $3.5 million in inflows.

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This is a developing story, and further information will be added as it becomes available.