According to a new report from Coinshares, digital asset investment products won a net inflow of $3.755 billion last week, marking one of the biggest weekly profits in history.
The updated appetite coincides with the recent crypto price rally following weeks of lukewarm market sentiment. In particular, these influxes have raised the managed total assets (AUM) to a fresh record of $244 billion.
Ethereum surpasses Bitcoin
Ethereum emerged as a clear leader in the market, subtracting an influx of $2.87 billion, about 77% of its weekly total.
James Butterfill, head of research at Coinshares, said most of the influx last week was concentrated on BlackRock’s Ishares Ethereum Fund (ETHA), which accounted for more than $2.3 billion in funding.
According to SOSO Value Data, Etha is the largest Ethereum ETF in Ethereum Etf, managing more than $10 billion in assets.
The BlackRock Fund’s record performance has contributed significantly to the fund’s record $11 billion in new capital accumulation this year.
Conversely, Bitcoin-centric funds have been repeatedly seen in recent weeks, highlighting a shift in investors’ interest in Ethereum.
This was unchanged last week when BTC-focused funds registered $522 million in new capital.
In particular, Coinshares highlights that Ethereum’s YTD inflow accounts for 29% of AUM, far more than Bitcoin’s 11.6%. Nevertheless, Bitcoin is the biggest asset in terms of AUM, standing at $1800.7 billion compared to Ethereum’s $37.7 billion.
Meanwhile, the short Bitcoin product saw a $4 million inflow as its prices fell below $120,000.
Outside of the top two major cryptocurrencies, XRP and Solana continue to remain the top Altcoin picks for institutional investors.
Last week, these digital assets focused funds have been registered with more than $300 million in total fresh capital. This brings the annual flow to over $2 billion and the capital is managed over $5 billion in assets.
Regionally, the US accounted for almost all influx, donating $3.73 billion, about 99% of the total. Other markets recorded lower profits, including $33.7 million in Canada, including Canada, and Hong Kong, including $29.9 million in Hong Kong, and $12.1 million in Australia.
However, these profits were partially offset by the outflows from Sweden and Brazil, withdrawing $49.9 million and $10.6 million, respectively.