Crypto Investments Attract $3.2B in Weekly Inflows, Extending Streak to 10 Weeks

Key Takeaways

• Digital asset investment products witnessed their 10th consecutive week of inflows, totaling a record-breaking $3.2 billion last week.
• Bitcoin remained the dominant force, attracting $2 billion in inflows.
• Altcoins like XRP, Polkadot, and Litecoin also saw significant inflows due to increased investor optimism and diversification.

Cryptocurrency investment products continued their winning streak, drawing $3.2 billion in inflows last week—the 10th consecutive week of gains.

Rising Bitcoin (BTC) prices and growing institutional interest in altcoins like Ripple (XRP) and Polkadot (DOT) buoyed investor confidence in the digital asset sector last week.

Record-Breaking Inflows

Last week’s milestone pushed total inflows for 2024 to a record-setting $44.5 billion—more than quadrupling any previous year’s figure,  according to CoinShares data .

Exchange-traded products (ETPs) saw robust trading activity, averaging $21 billion per week, accounting for 30% of all Bitcoin traded on trusted exchanges.

Flows by crypto asset class. | Credit: Bloomberg and CoinShares

Notably, Bitcoin’s daily trading volumes reached $8.3 billion on these platforms, surpassing the FTSE 100’s average daily turnover.

Bitcoin continued to dominate, pulling in $2 billion in inflows last week alone. Since the U.S. election, Bitcoin-focused investment products have seen cumulative inflows of $11.5 billion, underscoring the growing institutional and retail demand.

Short Bitcoin products also experienced $14.6 million in inflows, despite price rallies, though assets under management (AUM) for this category remain modest at $130 million.

Ethereum followed suit with its seventh consecutive week of inflows, totaling $1 billion last week.

Over the past two months, Ethereum products have brought in $3.7 billion, solidifying its position as a strong contender in the crypto market.

Altcoins and Global Investment Surge

Altcoins like XRP , DOT, and Litecoin (LTC) also saw positive inflows driven by growing optimism and increasing investor diversification.

XRP led the way with $145 million in inflows, buoyed by heightened hopes for the approval of a U.S.-listed ETF.

Polkadot and LTC  followed with inflows of $3.7 million and $2.2 million, respectively.

The growth in digital asset investments was evident across all major regions, with the U.S. leading the charge with $3.1 billion in inflows.

Other notable contributions came from Switzerland, Germany, and Brazil, further highlighting the global appeal of these assets.

With trading volumes surging and investment interest continuing to grow, 2024 has proven to be a pivotal year for digital assets.