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Bitcoin leads $1.2B weekly inflows into crypto investment products

Bitcoin leads $1.2B weekly inflows into crypto investment products

Cryptocurrency investment products continued their run of inflows last week as Bitcoin traded at its highest levels since early February.

Crypto exchange-traded products (ETPs) recorded $1.2 billion in inflows last week, marking their fourth week of consecutive gains, CoinShares reported Monday.

The inflow streak is the largest so far this year, as the four-week total reached about $3.9 billion, surpassing the previous four-week run of $2.9 billion in March.

Total assets under management rose to $155 billion, the highest level since Feb. 1, supported by Bitcoin trading above $76,000 for the first time since its February correction, CoinShares head of research James Butterfill said.

He said that crypto ETP growth likely reflects…

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