$3.3 Billion Floods Into Crypto in One Week, What’s Fueling the Surge?

Crypto asset investment products continued to see significant inflows last week, according to CoinShares’ latest weekly report. The firm reported $3.3 billion in inflows during the week ending May 24, pushing the year-to-date (YTD) total to $10.8 billion, a new record for 2024.

This marks the sixth consecutive week of inflows, signaling sustained investor demand for crypto assets amid growing macroeconomic concerns. CoinShares noted that total assets under management (AuM) briefly reached a new all-time high of $187.5 billion earlier in the week before retreating slightly.

Bitcoin and Ethereum Dominate Institutional Interest

Bitcoin once again led the inflow charts, attracting $2.9 billion last week, bringing its share of 2024 inflows to over 25%. The report also noted that some investors used the price strength as a chance to open short positions.

Short-Bitcoin products recorded their largest weekly inflow since December 2024, totaling $12.7 million. The mixed behavior among traders highlights ongoing divergence in sentiment regarding Bitcoin’s near-term trajectory.

Ethereum followed with $326 million in inflows, marking its strongest week in more than three months and continuing a five-week streak of positive sentiment. The increase in Ethereum-related flows comes amid improving investor confidence in its fundamentals and broader market positioning.

Other notable movements include the end of XRP’s long-standing inflow streak. The asset saw $37.2 million in outflows last week, breaking an 80-week streak and marking its largest recorded weekly exit.

While XRP had previously been seen as a more stable option among altcoins, this reversal may indicate a shift in investor sentiment or portfolio rebalancing.

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