---
title: "Surging Demand Lifts Crypto ETF Trading To A Record Of $19 Billion Amid Price Drops"
url: https://diffcoin.com/surging-demand-lifts-crypto-etf-trading-to-a-record-of-19-billion-amid-price-drops/
description: "In the aftermath of the recent market crash, crypto ETF products proved to be key in steering the course of the overall market recovery."
published: 2024-08-14
updated: 2024-08-14
author: "Mila"
site: "Diffcoin"
---

# Surging Demand Lifts Crypto ETF Trading To A Record Of $19 Billion Amid Price Drops

In the aftermath of the recent market crash, crypto ETF products proved to be key in steering the course of the overall market recovery. After a sharp drop in total assets under management (AuM) to $75 billion following the carnage on August 5, the total rebounded significantly to $85 billion, effectively recouping over $20 billion lost during the correction.

## Crypto ETF Products Record Trading Activity

CoinShares’ latest report shows the impact of these crypto ETF products, with trading activity soaring to $19 billion for the week, eclipsing the usual $14 billion weekly average observed thus far this year.

The report also highlighted an uncommon trend of universal inflows across all regions, signaling a unanimous positive sentiment towards crypto assets post the recent price correction.

Noteworthy contributions came from regions like the United States, Switzerland, Brazil, and Canada, with inflows of $89 million, $20 million, $19 million, and $12.6 million, respectively in the past week alone.

Ethereum, in particular, seemed to thrive amidst the market turbulence, attracting a substantial $155 million in inflows last week. This surge propelled its year-to-date inflows to $862 million, marking the highest inflow volume seen since 2021.

Per the report, the surge in Ethereum inflows was largely attributed to the recent introduction of US spot-based Ethereum ETFs, highlighting the growing interest in alternative crypto ETF products beyond Bitcoin and its index fund market approved in January in the same country.

## Investors Shift Focus To Long Positions

While Bitcoin initially experienced outflows at the beginning of the week, a notable turnaround occurred in the final days with significant inflows amounting to $13 million for the week.

Conversely, short crypto ETF products based on BTC faced their most substantial outflows since May 2023, accounting for a total of $16 million (23% of AuM). This trend led to a notable reduction in AuM for short positions, hitting its lowest level since the beginning of the year.

Further insights from SoSo Value data reveals that spot crypto ETFs recorded a net outflow of $169 million in the Bitcoin market. Among the standout figures, the Grayscale Bitcoin Trust ETF (GBTC) witnessed a weekly outflow of $392 million, while BlackRock ETF IBIT observed a notable inflow of $220 million.

![Crypto ETF](https://www.tradingview.com/x/2siAoUnm/)

The 1D chart shows BTC’s price volatility experienced over the past few days. Source: BTCUSDT on TradingView.com

At the time of writing, the largest cryptocurrency on the market, Bitcoin, has dropped over 2% in the last 24 hours to a current trading price of $58,640. However, after recovering from last week’s crash toward $49,000, BTC is still up 18% over the previous seven days.

Ethereum, on the other hand, has been up 1.1% over the past 24 hours, with the token trading at $2,660. Like Bitcoin, ETH has seen significant gains of nearly 22% in the last seven days since recovering from an 8-month low of $2,112 last Monday.

Featured image from DALL-E, chart from TradingView.com

[Source link](https://bitcoinist.com/crypto-etf-record-19-billion-amid-price-drops/)