In a notable bullish development reminiscent of the 2021 crypto surge, the latest data indicates a substantial uptick in digital asset investment products, with inflows surging to an impressive $176 million last week.
This marks the 10th consecutive week of inflows, bringing the cumulative total to an impressive $1.84 billion.
The primary catalyst for this surge was Ethereum, attracting a substantial $134 million in inflows during a month-long streak. This signifies a significant turnaround as Ethereum’s net flows turned positive for the first time this year, following an extended period of negative sentiment.
Additionally, Bitcoin investment products also experienced a resurgence, with $133 million in inflows. Notably, Short-Bitcoin, after three weeks of outflows, saw a revival with $3.6 million flowing in last week.
XRP-focused exchange-traded products (ETPs) also witnessed a notable uptick, with over half a million dollars flowing into these instruments, representing a doubling from the previous week.
Year to date, ETPs have accumulated $13 million, positioning it as the third-best performer among altcoins, trailing only Bitcoin and Solana (SOL).
While this influx of funds marks the most substantial bull run since October 2021, coinciding with the launch of futures-based ETFs at that time, the total assets under management, despite a remarkable 107% increase this year, remain below the all-time high of $86.6 billion recorded in 2021.