Weekly Inflows to Crypto Funds Surge by $1.9 Billion Amid Geopolitical Turmoil

Despite the turbulence in global markets triggered by the conflict between Iran and Israel, cryptocurrency investment products managed by firms like BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Share have seen an influx of $1.9 billion. This is reported in the latest update from CoinShares.

Over the course of nine weeks, global crypto funds experienced a total net influx of $12.9 billion, with the year-to-date figure reaching $13.2 billion. The AUM of these entities now stands at $179 billion.

Investment products based on Bitcoin have shown a strong recovery, gaining $1.3 billion in just a week following two weeks of modest outflows.

The total assets under management have risen to $156.7 billion, significantly boosted by American spot ETFs.

Conversely, short Bitcoin products have recorded slight outflows amounting to $3.7 million.

In the past week, the net inflow to Ethereum ETFs reached $585 million, marking the highest figure since February.

Ethereum-based funds maintained a positive trend, also registering a net inflow of $585 million over the week, with $528.2 million coming from U.S. Ethereum ETFs. However, this influx series ended Friday after a record 19-day streak, with AUM for ETF funds declining by $2.18 million.

Ripple’s XRP investment products saw their first net inflow in three weeks, gaining $11.8 million. Funds linked to Sui attracted $3.5 million.

In the past week, Bitcoin experienced a slight decline of 0.9%, while Ethereum rose by 3.6%, according to CoinGecko.

However, caution was advised, citing a lack of clarity around interest rate cuts from the [Federal Reserve] and declining institutional interest in Ethereum, which may point to «potential volatility» on the way to historical highs.

It is worth noting that senior Bloomberg exchange analyst Eric Balchunas predicted a «summer of altcoin ETFs.»