Digital asset investment products recorded a huge inflow of $3.75 billion last week, marking the fourth-largest weekly inflow on record.
According to a CoinShares’ report this surge pushed the total assets under management (AuM) to an all-time high (ATH) of $244 billion. Most of the inflows came from iShares, specifically one investment product, showing strong investor confidence.
Ethereum Leads the Rally
Remarkably, Ethereum led the inflows with drawing $2.87 billion, approximately 77% of total weekly inflows. With this, Ethereum’s year-to-date (YTD) inflows rose to a record $11 billion, which is dramatically ahead of Bitcoin on an absolute basis.
On August 13, Ethereum (ETH) climbed past $4,782, coming within 6% of its all-time high of $4,891. This recent price surge has boosted investor interest and confidence, contributing to Ethereum’s market dominance.
Bitcoin recorded lower inflows of $552 million. Other digital assets, such as Solana (SOL) and XRP, also recorded significant inflows of approximately $176.5 million and $125.9 million, respectively. However, Litecoin (LTC) and The Open Network (TON) recorded minor outflows.
When it comes to digital asset inflows, iShares ETF in the USA is leading the charge, taking in a staggering $3.2 billion. Grayscale Investments saw modest inflows of $85 million, while Fidelity and ARK 21Shares recorded outflows. Smaller companies, including 21Shares AG, Bitwise Funds Trust, and ProShares ETF/USA saw small inflows, while CoinShares XBT Provider AB saw outflows of $52 million.
U.S. Investors Drive Most Inflows
The United States is at the forefront of cryptocurrency investments, with a voracious desire for digital assets. Nearly all of the recent crypto inflows, $3.73 billion, were from the U.S. The investors are regaining their confidence, investing in Ethereum and other leading performers. Other countries contributed much smaller amounts. Canada added $33.7 million, Hong Kong contributed $20.9 million, and Australia saw $12.1 million in inflows.
In contrast, Sweden and Brazil recorded modest outflows of $49.9 million and $10.6 million, respectively. Germany also experienced a slight outflow of $0.4 million.
Also Read: ETH Spot ETFs Poised for Record Week as Inflows Top $2.9 Billion
