Crypto Investment Products See Historic Demand: Is FOMO Back?
Ether momentarily jumped above $2,800 for the first time since February, and Bitcoin traded near fresh highs, continuing the multi-week inflow trend into cryptocurrency investment products. CoinShares said on Monday that global cryptocurrency exchange-traded products (ETPs) had inflows of $1.9 billion in the trading week that concluded Friday, extending a nine-week run of inflows to $12.9 billion.
According to James Butterfill, head of research at CoinShares, the new inflows have set a record for year-to-date (YTD) inflows of $13.2 billion for crypto ETPs. Crypto ETPs’ total assets under management (AUM) increased marginally from $175.9 billion to $179 billion last week.
Bitcoin Investment Products Surge with $1.3B Inflows After Weeks of Decline
Following two weeks of modest withdrawals, Bitcoin investment products bounced back to record large gains, reaching the top of the chart last week with inflows of $1.3 billion. Although their AUM stayed low at $96 million, short-bitcoin products also saw modest inflows of $3.7 million.
With an additional $583 million in inflows last week, Ether ETPs continued their upward trajectory and came in second in terms of inflows. The inflows represented the biggest gains for the ETH product since February, including their best one-day inflows, according to CoinShares’ Butterfill.
Gold Spikes to $3,448 as Ether ETPs Hit Highest Inflows Since December
The development of the Israel-Iran conflict and other geopolitical concerns put more pressure on risk-on assets, but according to Butterfill, digital assets held up well last week. Additionally, the surge sparked a renewed interest in gold, as evidenced by TradingView data showing that spot gold spiked to $3,448 for the first time since early May.
On the other hand, although prices briefly dropped from $2,869 last Wednesday to as low as $2,473 on Thursday, Ether continues to enjoy growing momentum in other areas. Inflows into Ether ETPs have totaled $1.9 billion over the last eight weeks, according to Butterfill, and Wednesday’s $256 million inflows were the biggest since early December 2024.
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