Bitcoin funds push Crypto ETP inflows to record $5.95B

Last week, crypto-investment products saw their largest ever inflows as the US shutdown fuelled a rally on spot markets.

The global crypto exchange-traded products (ETPs) recorded $5.95 billion of inflows in the week ending Friday — the largest ever seen — CoinShares reported On Monday,

“We believe this was due to a delayed response to the FOMC [Federal Open Market Committee] interest rate cut, compounded by very weak employment data […], and concerns over US government stability following the shutdown,” James Butterfill said that CoinShares head of research James Butterfill.

Bitcoin was the beneficiary of a bullish crypto market trend.BTC( ) Registering an a new historic high above $125,000 This Saturday

Bitcoin ETPs set new records

Crypto ETPs have surpassed traditional ETPs in terms of their inflows, which reached $5.95 billion. previous $4.4 billion record By mid-July 35%.

In contrast to the past record inflows which were nearly equally divided between Bitcoin (BTC) and Ether.ETHBitcoin Funds attracted a record $3.6 billion.

“Despite prices closing in on all-time highs during the week, investors did not choose to buy short investment products,” CoinShares Butterfill noted

Butterfill stated that the Ether ETPs have seen inflows amounting to $1.48 billion. This brings year-todate inflows close to a record $13.7 billion.

Solana (SOLETP inflows were ranked third with $706.5 millions, followed by XRP ($706.5 million).XRPCoinShares reports that both of these transactions set records.

Related: Companies spent $1.2B on Bitcoin last week, but BTC ETFs stole the show

According to the record inflows in the crypto fund industry, the total assets managed (AUM), reached a new peak of $254.4 Billion.

New ETF launches despite shutdown-triggered delay concerns

Crypto ETPs have seen their historic inflows increase amid US Securities and Exchange Commission’s (SEC) scrutiny. shutting down operations last weekThe sparks are ablaze concerns over potential delays The highly anticipated exchange-traded fund (ETF) The approvals will be made in October.

According Eleanor Terrett of Crypto in America says that the SEC is still able to act against fraud or market emergencies but it’s expected the shutdown will cause routine work to be delayed.

“It’s like a rain delay,” Eric Balchunas, senior ETF analyst at Bloomberg, said this last week.

Despite the anticipated slowdown, Grayscale Investments — the second-largest US crypto ETF provider, after BlackRock — debuted the first US-listed spot crypto ETPs, enabling staking, on Monday.

Grayscale Ethereum Mini Trust (ETH) and Grayscale Ethereum Trust (ETHE), the new products that focus on staking, now enable investors to earn additional returns. staking rewardsThe fund’s performance on the market will also be credited to your account.