Cryptocurrency investment funds continue to attract investor capital and now have a record $188 billion U.S. of assets under management, according to market data.
Investment funds for crypto such as Bitcoin (BTC) and Ethereum (ETH) attracted $1.04 billion U.S. of new money over the past week, extending a 12-week streak that has seen a total of $18 billion U.S. flow into exchange-traded funds (ETFs) and other investment vehicles.
With a lift from rising prices, assets under management (AUM) have now risen to a record $188 billion U.S. among crypto funds.
The U.S. continues to dominate regional activity with $1 billion U.S. of inflows, dwarfing Germany’s $38.5 million U.S. and Switzerland’s $33.7 million U.S.
Bitcoin continues to be the standout among crypto ETFs, drawing in $790 million U.S. over the past week and helping to push the price of BTC near an all-time high.
Year-to-date, U.S.-listed spot Bitcoin ETFs have attracted $14.5 billion U.S. in net inflows and control nearly $128 billion U.S. in assets under management.
BlackRock’s iShares Bitcoin Trust ETF (IBIT) continues to lead the pack with $73.6 billion U.S. of assets under management.
Ethereum funds are also performing well, notching an 11th straight week of inflows with $226 million U.S. added in the past week.
There are also rising hopes that the U.S. Securities and Exchange Commission (SEC) will approve spot ETFs for other cryptos such as Solana (SOL) and XRP (XRP) this year.
Futures traders are currently betting that there’s a 95% chance that the SEC approves a batch of new crypto ETFs by year’s end.
They are also expecting a crypto index ETF tracking multiple digital assets to be approved.
Bitcoin is currently trading at $108,650 U.S., having gained 16% on the year.
