Boom! Digital Assets Rake in $3.3 Billion in a Week, Setting New Records

Unstoppable Surge in Crypto Investments

Listen up, folks! Digital asset products just pulled in a whopping $3.3 billion last week. That's right, and it's pushed the total year-to-date inflows to an all-time high of $10.8 billion. We're talking record-breaking numbers here!

CoinShares Reports Skyrocketing Numbers

CoinShares just dropped their latest digital asset fund weekly report, and it's wild. Both year-to-date flows and total assets under management hit historical peaks last week. It's the sixth straight week of positive flows, with digital asset investment products soaking up $3.3 billion in capital. Total year-to-date flows? They shot up to a new high of $10.8 billion from $6.7 billion the week before. And get this, total assets under management for digital asset funds hit an all-time high of $187.5 billion. Investors are back in the game, big time!

Why the Frenzy? U.S. Economic Jitters

James Butterfill, the head of research at CoinShares, spilled the beans. He says investors are flocking to alternative assets because the U.S. market's shifting. "We believe that growing concerns over the U.S. economy, driven by the Moody’s downgrade and the resulting spike in treasury yields, have prompted investors to seek diversification through digital assets," Butterfill explained.

U.S. Leads the Charge, Others Follow

Guess who's leading the charge? U.S. investors, pouring in a massive $3.2 billion. Meanwhile, Germany, Australia, and Hong Kong are seeing some action too, but it's peanuts compared to the U.S. - $41.5 million, $10.9 million, and $33.3 million respectively.

Some Take Profits, Others Keep Buying

On the flip side, Swiss investors seized the moment to lock in some gains, pulling out $16.6 million. Sweden and Brazil also saw outflows, but smaller at $12.1 million and $1.9 million.

Bitcoin Dominates, Short-Bitcoin Sees Action

Bitcoin (BTC)? It's still the king, with $2.9 billion in inflows - that's 25% of the total for 2024. With BTC's price blasting through the roof to a new all-time high of $111,814, investors are jumping on short-Bitcoin products. Last week alone, short-Bitcoin saw $12.7 million in flows, the highest weekly inflow since December 2024.

Ethereum Keeps Winning, XRP Takes a Hit

Ethereum (ETH) isn't far behind, pulling in $326 million and marking its fifth consecutive week of gains. It's the highest ETH has seen in the last 15 weeks. But it's not all sunshine and rainbows - XRP (XRP) broke its 80-week inflow streak, with a massive $37.2 million in outflows. That's the largest ever recorded for XRP.