Crypto ETPs hit record $3.85B inflows as Bitcoin smashes $100K

Cryptocurrency investment products set a record for inflows as Bitcoin surged past $100,000 for the first time ever.

Digital asset investment products saw their largest inflows on record, with $3.85 billion invested during the trading week of Dec. 2–6, according to a report by crypto investment firm CoinShares.

The latest crypto investment milestone came just a few weeks after crypto investment products smashed the previous record of $3.12 billion set in November when Bitcoin (BTC) traded at about $98,000.

The new high in weekly crypto inflows coincided with Bitcoin breaking above $100,000 for the first time on record on Dec. 5, reaching an all-time high of $104,000.

Bitcoin leads with $2.5 billion in inflows

Coinciding with the Bitcoin price hitting new highs last week, BTC investment products led total crypto weekly inflows with $2.5 billion, bringing year-to-date inflows to $36.5 billion.

Short Bitcoin investors were less active last week, with short BTC products seeing tepid inflows of $6.2 million.

Flows by assets (in millions of US dollars). Source: CoinShares

“Historically, we have seen much higher inflows after sharp price rises, suggesting investors remain cautious on betting against the recent strong momentum,” CoinShares’ head of research, James Butterfill, wrote in the update.

Ethereum ETPs see the largest weekly inflows on record

Ethereum, the second-largest blockchain network in terms of market capitalization after Bitcoin, also set new records in crypto investments last week amid Ether (ETH) surging past $4,000 on Dec. 6.

According to CoinShares, Ethereum products saw $1.2 billion in weekly inflows last week, its largest inflows on record since the first Ethereum exchange-traded funds (ETF) started trading in the United States in July.

Related: Investors pile a record $432M into Ether ETFs amid 9 days of inflows

A spike in Ethereum ETF investments came “at the expense” of Solana, which has seen $14 million in outflows, Butterfill noted, adding that Solana products saw their second consecutive week of outflows.

Additionally, blockchain equities saw inflows of $124 million, the largest since January, driven by growing investor confidence in improving Bitcoin miner margins, Butterfill said.

Cryptocurrency ETFs have seen a massive year in 2024 following the historic launch of spot Bitcoin ETF trading in the US in January.

On Dec. 6, Bitcoin ETF holdings surpassed 1.1 million BTC combined for the first time, surpassing those held by the anonymous Bitcoin creator, Satoshi Nakamoto.

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