Bitcoin ETF records record inflows, Solana surpasses Ethereum in weekly fund flows

According to CoinShares, Bitcoin ETFs saw unprecedented inflows last week, totaling $3.12 billion, their largest ever. This significant increase brought total inflows into digital asset investment products this week to $3.13 billion, bringing annual inflows to a whopping $37 billion.

Bitcoin and Short Bitcoin Products

The lion’s share of these inflows was Bitcoin, which alone amounted to $3 billion. The rise in Bitcoin prices sparked additional interest in short Bitcoin investment products, attracting $10 million in inflows. In particular, the monthly inflow of short Bitcoin products reached $58 million, the highest since August 2022.

Solana vs Ethereum

While Bitcoin dominated the inflow charts, Solana made headlines by outpacing Ethereum in weekly inflows. Solana recorded $16 million in new investments compared to Ethereum’s $2.8 million. However, Ethereum continues to lead to this day. Other altcoins, including XRP, Litecoin, and Chainlink, attracted $15 million, $4.1 million, and $1.3 million, respectively.

Global Market Trends

The $3.2 billion inflows from the U.S. market were partially offset by outflows from European countries including Germany, Sweden and Switzerland, totaling $40 million, $84 million and $17 million, respectively. These regions viewed recent price peaks as an opportunity to take profits. Meanwhile, markets in Australia, Canada, and Hong Kong showed positive sentiment, recording inflows of $9 million, $31 million, and $30 million, respectively.

Multi-asset products and market psychology

Despite positive trends for individual cryptocurrencies, multi-asset investment products recorded outflows totaling $10.5 million for the second week in a row. This may indicate a changing preference for single-asset strategies among investors.

For more insights, visit the full report on the CoinShares blog.

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