CoinShares, a digital assets manager, has reported that institutions invested over a billion dollars into cryptocurrency products last week following the approval of the U.S. Securities and Exchange Commission’s (SEC) Ethereum exchange-traded product (ETP). According to CoinShares’ latest Digital Asset Fund Flows report, crypto exchange products received $14.9 billion in inflows year-to-date, setting a new record. The report also revealed that the total assets under management of crypto ETPs have now reached nearly $100 billion, with the majority of inflows coming from the U.S. at $1.03 billion, followed by Germany and Switzerland. However, there were disappointing outflows of $29 million from Hong Kong. Bitcoin accounted for the largest share of inflows at $1.01 million, while Ethereum saw positive inflows of $36 million, likely driven by the SEC’s approval of eight spot ETH ETFs. Other cryptocurrencies, including Solana, Litecoin, XRP, and Chainlink, also experienced inflows. It is important for investors to conduct thorough research before investing in high-risk assets such as Bitcoin, cryptocurrency, or digital assets.
