Crypto investment products also hit an all-time high in inflows. According to a report by CoinShares, a total of $3.85 billion was invested during the week of December 2-6, breaking the previous record of $3.12 billion set in November.

Bitcoin Leads the Pack

On December 5, Bitcoin surged to a new all-time high of $104,000. This rally fueled a massive inflow of $2.5 billion into BTC investment products, bringing the year-to-date total to $36.5 billion.

Short Bitcoin products, however, saw minimal activity, recording just $6.2 million in inflows. James Butterfill, head of research at CoinShares, commented, “Historically, we’ve seen much larger inflows following sharp price rises, indicating that investors remain cautious about betting against the recent momentum.”

Ethereum Sees Record Inflows

Ethereum (ETH), the second-largest blockchain network, also saw a surge in investments last week. With ETH surpassing $4,000 on December 6, Ethereum investment products experienced $1.2 billion in weekly inflows — their largest ever since the first Ethereum ETFs launched in the U.S. in July 2024.

This spike in Ethereum inflows appeared to come at the expense of Solana (SOL), which recorded $14 million in outflows for the second consecutive week.

Bitcoin ETFs Reach Historic Levels

2024 has been a monumental year for crypto ETFs, particularly with the launch of spot Bitcoin ETFs in the U.S. in January. As of December 6, combined holdings in Bitcoin ETFs exceeded 1.1 million BTC, surpassing the amount held by Satoshi Nakamoto.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Record $3.85B Flows Into Crypto ETPs as Bitcoin Hits $100K! appeared first on Coin Engineer.