Digital assets manager CoinShares says that institutional crypto investors are pouring record-breaking inflows into crypto exchange-traded products (ETPs) in 2024.
In its latest Digital Asset Fund Flows report, CoinShares says that despite a muted week of $245 million net inflows, digital asset investment products reached a new year-to-date record last week.
“Digital asset investment products saw a relatively muted US$245m of inflows last week, although this obscures a mixed picture for various digital assets. Trading volumes rose to the highest levels since May at US$14.8bn for the week, helped by the recent Ethereum ETF launches. Recent price appreciation has brought total assets under management (AuM) to US$99.1bn while total inflows year-to-date (YTD) are at a record-breaking US$20.5bn.”
Bitcoin (BTC) investment vehicles enjoyed $519 million in inflows.
According to CoinShares, Ethereum’s (ETH) flows reacted to ETH’s exchange-traded fund (ETF) launch in a similar fashion to how BTC’s flows reacted to the BTC ETF launch in January 2024.
“The launch of the US spot-based Ethereum ETFs saw some of the largest inflows since December 2020, with newly issued ETFs seeing US$2.2bn inflows, while trading volumes in ETH ETP rose by 542%. This figure is somewhat controversial as Grayscale seeded its new Mini Trust ETF (the week prior) with capital from its incumbent closed-end trust (~US$1bn), which may help explain the steady stream of outflows in recent years.
Further, this week saw continued outflows from Grayscale’s incumbent trust of US$1.5bn as some investors cash out, leading to a net outflow of US$285m last week.”
While multi-asset crypto investment vehicles saw $8.7 million in inflows, Cardano (ADA), Litecoin (LTC) and XRP enjoyed inflows of $1.2 million, $0.6 million, and $0.5 million, respectively.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post Year-to-Date Institutional Flows for Crypto ETPs Reach Record-Breaking $20,500,000,000: CoinShares appeared first on The Daily Hodl.