Bitcoin and Ether are leading the cash flow frenzy: record growth for 9 consecutive weeks

Crypto ETP products continue to witness a strong growth streak in recent weeks, especially as Bitcoin trades near its all-time high and Ether surpasses the 2,800 USD threshold for the first time since February. According to the latest report from CoinShares, in the trading week ending on Friday, global crypto ETPs recorded inflows of up to 1.9 billion USD, extending a consecutive growth streak of 9 weeks. In total, inflows into these products have reached 12.9 billion USD year-to-date.

A report from CoinShares indicates that crypto ETPs have set a new record for inflows this year to date (YTD), totaling 13.2 billion USD. This is an impressive figure, marking a strong recovery of the cryptocurrency market after the previous lull. James Butterfill, the Director of Research at CoinShares, stated that this strong increase is a sign that confidence in the cryptocurrency market is increasingly being strengthened.

Bitcoin returns to lead the flow of funds, Ether continues its upward trend

After two weeks of witnessing a slight outflow of funds, Bitcoin has returned to the leading position in the past week with 1.3 billion USD flowing into Bitcoin investment products. This marks a clear recovery of the world's largest cryptocurrency after the previous adjustment period. Additionally, Short-Bitcoin products, although still at a low level, also recorded a modest inflow of 3.7 million USD, raising the total assets under management (AUM) to 96 million USD.

Not only Bitcoin, but Ether also recorded an impressive breakthrough last week, as Ether ETPs saw an additional $583 million in inflows. This is the strongest increase for ETH products since February of this year, indicating a marked increase in confidence in Ether's long-term potential, especially as Ethereum continues to develop scaling solutions and decentralized applications (dApp). James Butterfill also emphasized that inflows into Ether not only occurred strongly throughout the past week but also included some of the strongest inflow days of the year.

In addition to Bitcoin and Ether, some other cryptocurrencies have also recorded positive inflows. XRP, after three consecutive weeks of outflows, saw inflows reach 11.8 million USD last week, while Sui's investment product attracted an additional 3.5 million USD.

Source: CoinShares## BlackRock's crypto ETF is experiencing strong growth

In the past week, BlackRock's ETF funds have led the growth in capital inflows, recording an influx of 1.5 billion USD. This capital has pushed the total year-to-date inflows for BlackRock's funds above 14.2 billion USD, an impressive figure reflecting a strong increase in interest in crypto investment funds. Meanwhile, U.S. crypto ETF funds in general continue to report stable inflows with a small but steady increase, reaching 95 million USD in the past week.

Although the global crypto market has witnessed strong inflows over the past 9 weeks, not all issuers have benefited from this trend. According to CoinShares, Grayscale is the issuer with the largest outflow, with over 1.6 billion USD withdrawn this year. In contrast, ProShares, a US crypto ETF issuer, is the only entity that has not recorded outflows this year, with total inflows reaching 437 million USD.

The strong increase in the flow of funds into cryptocurrency investment products in recent weeks shows that confidence in the market is being solidly reinforced. Bitcoin and Ether are leading this trend, while some coins like XRP and Sui are also showing positive signs. Additionally, BlackRock's ETF funds continue to attract investors' attention, reflecting a significant increase in investor interest in the crypto market.

However, there are still some issuers who cannot take advantage of this opportunity, and maintaining the stability of cash inflows will be a decisive factor in the future of cryptocurrency products. The further development of the market will depend on factors such as legal regulations, technological advancements, and investor sentiment.

Emma