Cryptocurrency investment products saw a large increase in inflows last week, bringing the year-to-date (YTD) total past $10B. CoinShares stated that worldwide crypto exchange-traded products (ETPs) saw $3.3B in inflows during the week ending May 24, bringing the total year-to-date inflows to a record $10.8B.
James Butterfill, head of research at CoinShares, ascribed the high investor interest to growing fears about the US economy. The Moody's downgrading and the subsequent increase in treasury yields have prompted investors to seek diversification in digital assets. Bitcoin ETPs led the pace, receiving $2.9B in inflows last week — a fourth of total inflows in 2024. As Bitcoin topped $110,000 on May 22, some speculators shifted to short-BTC contracts, with inflows totaling $12.7M.
Ether ETPs also experienced solid inflows of $326 million, representing the fifth consecutive week of increases after the successful Pectra upgrade on May 7. Despite the asset's optimistic developments, XRP ETPs saw significant outflows of $37.2M, the highest on record.
The most recent CoinShares data reveals another record-breaking milestone for crypto ETPs, topping the previous peak of $7.2B in February 2025 and fully recovering from subsequent outflows.
