According to the latest CoinShares report, crypto asset investment products have reached a milestone, with weekly revenues reaching $3.85 billion, surpassing previous records set earlier this year.
CoinShares highlighted increased investor interest, pushing year-to-date (YTD) revenue to $41 billion and assets under management (AuM) to $165 billion—not unlike the previous cycle’s peak in 2021, which saw YTD inflows of 10.6 billion and peak AUM of $83 billion.
While Bitcoin continues to dominate, Ethereum has posted its biggest weekly inflow on record, highlighting the growing demand for major digital assets.
Bitcoin and Ethereum Lead Inflows
Bitcoin remained the main driver of record-breaking numbers, with revenues reaching $2.5 billion last week. This pushed its YTD revenue to $36.5 billion, cementing its status as a leading digital asset. Interestingly, short Bitcoin products received a low entry of $6.2 million.
Historically, high inflows into short Bitcoin products have been noted following sharp price increases, reflecting investor caution amid Bitcoin’s strong price momentum.
Ethereum emerged as another standout performer, recording its biggest ever weekly inflow of $1.2 billion. This increase exceeded the income seen when the ETF was launched in July.
The growing demand for Ethereum highlights its growing importance in the crypto asset market. However, this growth came at the expense of Solana, which saw outflows of $14 million for the second week in a row, indicating a possible change in investor sentiment.
📈Digital asset investment products saw the biggest weekly inflows last week reaching US$3.85bn!
This brings year-to-date (YTD) revenue to US$41bn and total assets under management (AuM) to a new high of US$165bn.#Bitcoin saw an inflow of US$2.5bn, short bitcoin… pic.twitter.com/bAKYga8qKK
– CoinShares (@CoinSharesCo) December 9, 2024
Meanwhile, despite the differences between the flows of Bitcoin, Ethereum, and Solana, their recent performance is very similar. For example, three of these crypto assets experienced a price drop in the past day.
While BTC is down 1.2% at a current trading price of $99,095, Ethereum is also down 2.6% to a current trading price of $3,894.
On the other hand, Solana is down 3.3% at the current trading price of $229, at the time of writing.
Blockchain Equities and Regional Trends
In addition to cryptocurrencies, blockchain equity has attracted the most interest, with revenues reaching $124 million – the highest since January 2023.
According to the head of research of CoinShares, James Butterfill, this trend is caused by the growing confidence in improving the profits of Bitcoin miners, which shows a broad positive view about the growth of the blockchain sector.
By region, the United States dominated revenue, followed by European and Australian markets. In particular, America led with $3.6 billion, followed by Switzerland, Germany, Canada, and Australia with $160 million, $116 million, $14 million, and $10 million, respectively.
The featured image was created with DALL-E, a Chart from TradingView