Report: Bitcoin Dominates with $133 Million in Weekly Inflows, Asserting Its Supremacy

Unprecedented Surge in Digital Asset Fund Inflows

The latest report from CoinShares reveals a remarkable surge in digital asset investment. Over the past 10 weeks, there has been an influx of $1.76 billion into the sector, marking the largest surge since October 2021. This surge in inflows aligns with the recent highs seen in major cryptocurrencies like Bitcoin and Ethereum.

CoinShares Reports $1.76 Billion Inflows in 10 Weeks

CoinShares’ Digital Asset Fund Weekly Flows report shows a significant trend in digital asset investments. In the past week alone, there was an influx of $176 million, making it the 10th consecutive week of substantial inflows. The cumulative total over the last 10 weeks reached an impressive $1.76 billion, accounting for 4% of assets under management (AuM). The report also highlights the robust growth of the digital asset space this year, with total AuM increasing by 107%.

Bitcoin Leads Inflows with Ethereum Gaining Traction

Bitcoin remains the primary beneficiary of this surge, attracting $132.8 million in inflows. Short-bitcoin products also experienced inflows of $3.6 million after three weeks of outflows. Ethereum has also made notable strides, with an additional $31 million in inflows and a five-week positive run totaling $134 million. For the first time this year, net flows for Ethereum turned positive at $10 million.

Robust Performance of Blockchain Equities

The CoinShares report highlights the strong performance of blockchain equities, with seven consecutive weeks of inflows. Last week saw an inflow of $17.4 million, the highest since July 2022, demonstrating sustained investor interest in the broader blockchain and digital asset ecosystem.

Hot Take: Bitcoin and Ethereum Reach Yearly Highs

The report coincides with Bitcoin and Ethereum reaching their yearly highs, indicating a bullish sentiment in the cryptocurrency market. Bitcoin’s price has risen 5.20% to $41,512.50, with a trading volume of $32.14 billion. Ethereum hit a yearly high of $2,273.07 and currently sits at $2,232.47.