CoinShares reported a record breaking week for inflows into cryptocurrency-based exchange-traded products (ETPs), driving the combined assets under management (AUM) to levels not seen since the peak of the last bull market in 2021.
According to CoinShares, the AUM for these investment products has reached $67 billion, the highest it has been since December 2021.
This significant increase in AUM has been attributed to inflows of $5.2 billion so far this year and a positive market performance for cryptocurrencies.
In the week ending February 16, ETPs received a record-breaking $2.45 billion in inflows, with 99% of these inflows coming from ETPs listed in the United States, including the 10 recently approved spot Bitcoin ETFs.
James Butterfill, head of research at CoinShares, noted that this increase in inflows can be attributed to a significant acceleration of net inflows for these approved ETFs.
Butterfill also reported that BlackRock and Fidelity’s ETFs were the top recipients of last week’s inflows, receiving a total of $2.3 billion.
