Bitcoin and Ether lead $17.8B crypto inflows

Bitcoin saw its fifth-largest week of inflows on record, helping it recapture the $60,000 mark, while Ether inflows took second place in anticipation of the US Ether ETFs.

• Inflows into digital asset investment products have hit a new record of over $17.8 billion year-to-date (YTD), pointing to the start of a potential crypto market recovery.
• The new record comes after cryptocurrency investment products saw a total of $1.44 billion worth of inflows last week.
• According to CoinShares data, the year-to-date inflows for 2024 have reached $17.8 billion, significantly surpassing the previous record of $10.6 billion set in 2021.

Bitcoin records fifth-largest week of inflows

Bitcoin (BTC) experienced its fifth-largest weekly inflow on record, amounting to over $1.35 billion. This substantial influx helped the world’s first cryptocurrency rebound above the significant $60,000 mark.

Meanwhile, short Bitcoin-related investment products experienced their largest weekly outflows since April 2024, totaling over $8.6 million.

Ethereum sees $72 million in inflows in anticipation of Ether ETF

Ether (ETH) had the second-largest inflows after Bitcoin, totaling over $72.1 million for the past week.

The growing inflows likely came in anticipation of the first spot Ethereum exchange-traded fund (ETF) in the US, which could launch for trading as soon as the next few weeks.

US spot Ether ETF issuers are expecting to receive final comments from the Securities and Exchange Commission (SEC) by early this week, according to an industry source familiar with the matter.