---
title: "Crypto Funds Hit $2.2 Billion Weekly Inflow Amid Bitcoin Recent Surge To $93K"
url: https://diffcoin.com/crypto-funds-hit-2-2-billion-weekly-inflow-amid-bitcoin-recent-surge-to-93k/
description: "The global cryptocurrency market continues to attract significant investor interest as crypto investment products recorded a substantial influx..."
published: 2024-11-19
updated: 2024-11-19
author: "Mila"
site: "Diffcoin"
---

# Crypto Funds Hit $2.2 Billion Weekly Inflow Amid Bitcoin Recent Surge To $93K

The global cryptocurrency market continues to attract significant investor interest as crypto investment products recorded a substantial influx of funds last week.

According to CoinShares’ latest weekly report, crypto funds registered a net inflow of $2.19 billion globally, bringing year-to-date (YTD) net inflows to a record high of $33.5 billion.

The surge in inflows coincided with Bitcoin’s recent rally to a new all-time high of $93,477, which contributed to CoinShare’s total assets under management (AUM) for crypto funds reaching roughly $138 billion.

## Global Distribution Of Crypto Inflows And Key Trends

US-based funds primarily drove the inflows, accounting for $2.21 billion of the total weekly inflow. Other regions, including Hong Kong, Australia, and Canada, contributed net inflows of $27 million, $18 million, and $13 million, respectively.

On the other hand, investors in Sweden and Germany opted to take profits, resulting in regional net outflows of $58 million and $6.8 million, respectively. Meanwhile. Bitcoin-based products continued to dominate the market, attracting $1.48 billion in net inflows globally over the week.

The renewed interest in Bitcoin coincided with its price surge but also spurred a notable increase in short-Bitcoin investment products, which received $49 million in new investments. This development reflects investor skepticism or hedging against potential price pullbacks following the recent highs.

Ethereum-based products, which have faced challenges in recent months, showed signs of recovery by registering net inflows of $646 million globally.

CoinShares Head of Research James Butterfill highlighted that the turnaround might have been influenced by a mix of market factors, including a proposed network upgrade dubbed the Beam Chain by Ethereum researcher Justin Drake and market optimism driven by the US elections. Ethereum inflows represented 5% of the asset’s total AUM, indicating renewed investor confidence.

## Behind The Surge

Just as the inflow seen in Ettherum, Butterfill also noted that the overall spike in crypto fund inflows last week appears to be driven by a mix of market factors, including a shift in US monetary policy and the impact of the Republican party’s sweeping victory in the US elections.

Butterfill further revealed that although the week began with $3 billion in net inflows over the first few days, a subsequent $866 million outflows was observed following Bitcoin’s all-time high (ATH).

Speaking of BTC’s ATH, following the achievement of the peak above $93,000 on November 13, BTC has seen a noticeable correction in price.

So far, Bitcoin has dropped by 2.8% from this ATH of $93,477 as it currently trades for $90,334 at the time of writing albeit up slightly by 0.2% in the past day.

![Bitcoin (BTC) price chart on TradingView amid crypto market inflow](https://www.tradingview.com/x/qzmTqnje/)

BTC price is moving upwards on the 2-hour chart. Source: BTC/USDT on TradingView.com

Interestingly, over the past few days since BTC started this correction, its daily trading volume has also seen quite a significant drop in valuation dropping from above $70 billion last week to $59 billion today.

Featured image created with DALL-E, Chart from TradingView

[Source link](https://bitcoinist.com/crypto-funds-hit-billion-weekly-inflow-amid-bitcoin/)