Crypto ETFs See $857.9M Inflows, Sixth Consecutive Positive Week

Key insights:

• Crypto ETFs and digital asset funds drew $857.9 million in net inflows last week.
• Bitcoin products led with $706.1 million in inflows as the asset crossed $80,000 mid-week.
• Total assets under management across the category rose to $160 billion.

Crypto ETFs extended their inflow streak last week as institutional demand strengthened alongside Bitcoin’s move above $80,000.

Digital asset investment funds drew $857.9 million in net inflows during the week ending May 9, according to CoinShares data. The weekly total marked the sixth consecutive week of positive flows across crypto investment vehicles.

Total assets under management across the sector climbed to $160 billion. Investor sentiment also improved after U.S. lawmakers advanced discussions around the CLARITY Act ahead of a Senate Banking Committee markup expected this week.

Year-to-date inflows into digital asset funds have now reached $5.95 billion.

Bitcoin-tracking products drew $706.1 million in net inflows over the week, the largest single-asset figure across the category and the main driver behind the headline weekly number.

Year-to-date inflows for Bitcoin investment products now stand at $4.917 billion, with total assets under management at $129.14 billion.

The flows into Bitcoin ETF products came as the price of the underlying asset broke above $80,000 mid-week. The move set the highest price level for Bitcoin since the correction seen in February.

Short-bitcoin products saw $14.4 million in outflows over the same period, the largest weekly withdrawal from those products this year.

The withdrawals suggested traders were reducing downside protection as bullish positioning returned to the market. Year-to-date inflows into short-Bitcoin products stay at $76 million, with total assets under management at $201 million.

United States-listed funds accounted for $776.6 million of the global weekly figure. Year-to-date inflows into US-listed crypto ETFs now stand at $4.71 billion, with total assets under management at $134.48 billion.

European flows came in at a smaller scale but stayed positive across the major hubs. Germany recorded $50.6 million in inflows, marginally above the previous week’s number.

Switzerland added $21.1 million, while Canada and the Netherlands attracted $4 million and $5 million respectively. Sweden remained the only major European market in negative territory this year after recording another $2.2 million in outflows.

Brazil, France, Hong Kong, and New Zealand each recorded smaller positive flows of less than $2 million on the week. Australia, Italy, and Luxembourg posted no material movement on the period.

Ethereum investment products drew $77.1 million in net inflows over the week, a turnaround from $81.6 million in outflows the previous week.

Year-to-date inflows for Ethereum products now stand at $387 million, with total assets under management at $18.69 billion. Month-to-date inflows for Ethereum ETF products have reached $176.8 million.

The Ethereum ETF segment was joined by altcoin products that drew fresh capital across the week. XRP funds added $39.6 million while Solana products took in $47.6 million, marking their strongest weekly inflows since March.

Smaller altcoin products also recorded positive flows over the period. Chainlink products added $1.4 million, Sui $1.0 million, and Litecoin $0.1 million on the week.

By issuer, BlackRock’s iShares family drew $733 million in net inflows over the week, the bulk of the global total. Year-to-date inflows for iShares now stand at $4.58 billion, with total assets under management at $75.27 billion. Month-to-date inflows for the iShares family have reached $1.071 billion across the first two weeks of May.

ARK 21Shares took in $52 million on the week, Bitwise drew $41 million, and Fidelity added $31 million. 21Shares AG recorded $5 million in inflows for the period. CoinShares posted no movement on the week.

Two issuers saw withdrawals across the seven-day window. Grayscale posted $63 million in outflows, taking year-to-date outflows to $636 million. ProFunds Group recorded $23 million in outflows on the week.

The post Crypto News: Crypto ETFs See $857.9M Inflows, Sixth Straight Positive Week appeared first on The Market Periodical.