Crypto product inflows for this year have eclipsed the total for the previous year despite having a few weeks left in the calendar, according to CoinShares’ latest weekly report.
Per the report, the weekly inflows into cryptocurrency products have reached a robust $767 million, exceeding the $736 million recorded in 2022.
Sixth weekly inflow
This record-breaking yearly performance comes on the heels of last week’s $261 million inflow, marking the sixth consecutive week driven by the positive sentiment surrounding the possibility of approval of spot-based Bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC).
CoinShares notes that this recent surge in inflows is reminiscent of the run observed in July 2023 and marks the largest since December 2021.
Notably, Bitcoin (BTC) continues to dominate this surge, attracting $229 million in inflows last week and pushing its year-to-date inflow to an impressive $842 million. Even in the face of this bullish
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