The latest data shows that the digital asset market witnessed a historic week, with investment products attracting record inflows of $3.85 billion, led by Bitcoin investments.
This milestone surpasses the previous high achieved just weeks earlier, pushing year-to-date (YTD) inflows to $41 billion. Additionally, total assets under management (AuM) for digital assets have reached a new peak of $165 billion, nearly double the $83 billion high from the 2021 cycle.
Bitcoin Dominates the Weekly Inflow Records
Bitcoin remained the primary beneficiary of the latest record-breaking weekly inflow. It secured $2.5 billion in weekly inflows, bringing its YTD total to $36.5 billion.
This new record follows Bitcoin’s historic milestone in the spot market, where its floor value surpassed $100K last week. After overcoming the $100K barrier, the premier asset went on to establish its all-time high at $104,000.
While Bitcoin’s price continued to consolidate in the $90K region after its record rally, it later achieved another historic milestone by closing above $100K for the first time ever on December 8.
This development affected Bitcoin products, spilling over to the broader crypto market.
Record Inflows in Ethereum ETPs
Ethereum investment products, in particular, experienced their largest weekly inflow ever, amassing $1.2 billion. This figure even surpassed the hype surrounding ETF launches earlier this year.
In contrast, Solana-based ETPs continued to face challenges, with $14 million in outflows marking their second consecutive week of declines.
Amid these developments, short Bitcoin products saw muted inflows of $6.2 million. This indicates a cautious stance among investors amid Bitcoin’s historic price surge.
U.S. Leads Regional Inflows
Regional inflows were dominated by the United States, which accounted for $3.57 billion of the total. Notably, U.S.-based ETFs also saw their cumulative BTC holdings surpass that of Satoshi Nakamoto last week.
Meanwhile, Switzerland followed with $160 million, while Germany, Canada, and Australia recorded $116 million, $14 million, and $10 million, respectively.
Other Highlights
Blockchain equities also saw a resurgence, with inflows of $124 million—the highest since January 2024. This surge reflects growing optimism in improving profit margins for Bitcoin miners, a key indicator of the sector’s health.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Source: https://thecryptobasic.com/2024/12/09/crypto-etps-led-by-bitcoin-and-ethereum-hit-record-inflows-in-one-week/?utm_source=rss&utm_medium=rss&utm_campaign=crypto-etps-led-by-bitcoin-and-ethereum-hit-record-inflows-in-one-week
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