Digital asset investment products attracted a whopping $785 million in inflows last week, bringing the total for the year to $7,5 billion. The figure marks a new milestone, surpassing the previous record of $7,2 billion recorded in early February. Central bank policies have historically challenged crypto markets, but this recovery trend reflects a resolute return of investors to the market.
Bitcoin-related investment products continued to be the biggest draw of capital with $557 million in weekly inflows. While this amount is significant, it is down from the $867 million attracted the previous week. The drop can be attributed to investor caution, who are once again becoming cautious due to more recent policy signals from the US Federal Reserve. Interestingly, short Bitcoin products have recorded their fourth consecutive week of inflows, totaling $5,8 million. This indicates that some investors may be looking to hedge their positions or speculate on a short-term pullback. Recently, the price of Bitcoin more than 20% to as much as $106.000 over the weekend before dropping back slightly to $102.000 this week.
Ethereum emerged as the best performing altcoin with $205 million in new inflows last week, bringing the total for the year to $575 million. This upward trend is likely due to the recent Pectra upgrade and internal leadership changes within the Ethereum Foundation. Key positions have been filled by Hsiao-Wei Wang and Tomasz Stańczak as co-executive director, while Vitalik Buterin continues in a more research-oriented role. With these changes, Stańczak emphasized that the network is focusing on Layer 1 scaling, Layer 2 support, and improved user experience. These efforts will be crucial for upcoming upgrades such as Fusaka and Glamsterdam, which aim to improve Ethereum’s interoperability and accessibility.
Other altcoins have also performed well, with Sui attracting $9,3 million in inflows, bringing its total to $91 million this year, and XRP gaining $4,9 million, bringing its total to $263 million. On the other hand, Solana the only major altcoin to see an outflow of $890.000, bringing its annual total to $75 million.
What was the total amount of inflows into digital assets last week?
Last week, the digital asset market attracted $785 million in inflows, bringing the total for this year to $7,5 billion.
How did Bitcoin and Ethereum impact the inflow numbers?
Bitcoin remained the biggest draw, but inflows fell to $557 million. Ethereum, on the other hand, saw an increase of $205 million, partly due to internal changes and upgrades.
What is the expectation for the altcoin market?
Given the recent performance of Ethereum and other altcoins, the market seems well positioned to continue growing, especially with upcoming infrastructure upgrades and improvements.