Global crypto ETFs see record $5.95B inflows amid Bitcoin surge
Exchange-traded funds (ETFs) tied to cryptocurrencies attracted a record $5.95 billion in inflows worldwide last week, driven by surging investor demand for digital assets.
The influx of funds coincided with Bitcoin’s rise to a new all-time high, underscoring renewed enthusiasm in the crypto market, News.Az reports, citing Reuters.
Digital asset investment products garnered the record capital in the week ended October 4, according to data from Coinshares.
Bitcoin (BTC-USD), the world's largest cryptocurrency, surpassed its August peak to hit a record high on October 5, extending its gains to reach $126,223 for the first time on Monday.
The United States led with $5 billion inflows in crypto ETFs, followed by Switzerland at $563 million and Germany at $312 million, both setting new records, Coinshares said. Bitcoin attracted $3.55 billion, ether $1.48 billion, while solana and XRP (XRP-USD) drew $706.5 million and $219.4 million, respectively.
Bitcoin's ascent comes alongside a record rally in traditional safe haven gold, as a weakening U.S. dollar amid trade uncertainty and economic concerns is pushing investors to diversify their portfolios.
"This level of investment highlights the growing recognition of digital assets as an alternative in times of uncertainty," said James Butterfill, head of research at CoinShares, in the weekly report.
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