Cryptocurrency investment products continued their strong momentum last week, attracting $1.9 billion in fresh inflows, according to the latest weekly report from CoinShares.
This marks the ninth consecutive week of positive flows, pushing the year-to-date total to a record-breaking $13.2 billion.
Leading the charge was Bitcoin, which bounced back from prior outflows with a robust $1.3 billion in new investments. The resurgence signals renewed investor confidence in the leading digital asset. Not far behind, Ethereum posted its strongest weekly inflow since February, pulling in $583 million. This brings its recent cumulative inflows to $2 billion, representing approximately 14% of its total assets under management (AuM).
These inflows underscore the growing role of digital assets as resilient investment vehicles. CoinShares analysts noted that crypto is increasingly mirroring traditional “risk-off” assets, such as gold, which also saw inflows last week despite broader market volatility.
Geographically, the U.S. led the positive sentiment, accounting for the entire $1.9 billion in inflows. Meanwhile, Europe saw more modest gains, with Germany bringing in $39.2 million, Switzerland $20.7 million, and Canada $12.1 million. However, not all regions followed suit—Hong Kong recorded outflows of $56.8 million, while Brazil saw redemptions totaling $8.5 million.
Interest in altcoins also returned, with XRP breaking a three-week streak of outflows by attracting $11.8 million. Sui, a newer entrant to the market, continued to gain traction with $3.5 million in inflows. Additionally, short-Bitcoin products saw a modest $3.7 million in new capital, although their overall AuM remains small at $96 million.
Building on the positive momentum, CoinShares recently concluded 2024 with a strong financial performance. In a February 18 press release, the firm reported Q4 revenue of £48.3 million ($60.8 million), representing a 53% year-over-year increase.
The company also posted a 37% jump in adjusted EBITDA, reaching £33.6 million, further underscoring its growth as a key player in the institutional crypto investment space.
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