Crypto ETPs Reach Bull Run Peak with $67B AUM Amid Record Inflows

According to Cointelegraph: The assets under management (AUM) for crypto-based exchange-traded products (ETPs) have reached levels not seen since the bull market peak in 2021. A record week of inflows combined with positive price action in the crypto market has resulted in an AUM of $67 billion, the highest since December 2021, as reported by CoinShares. ARK 21Shares and ProShares ETPs saw combined weekly inflows of $515 million. Source: CoinShares Crypto ETPs experienced record inflows of $2.45 billion for the week ending February 16th, with 99% attributed to US-listed ETPs. The recently approved spot Bitcoin ETFs were significant contributors to these inflows. Major players like BlackRock and Fidelity’s ETFs collected nearly $2.3 billion of these inflows, amounting to $1.6 billion and over $648 million, respectively. Outflows from incumbent players, on the other hand, have significantly decreased, as noted by James Butterfill, Research Head at CoinShares. Conversely, Grayscale’s products experienced $623 million in weekly outflows. Despite the largely positive backdrop, some investors are still betting against Bitcoin and added $5.8 million inflows to short-Bitcoin products. Ether products also saw modest inflows of $21 million and ended last week around $2,800, a price level last touched in May 2022. Altcoin ETPs based on Avalanche, Chainlink, and Polygon have consistently seen weekly inflows this year, each with around $1 million. However, Solana products recorded $1.6 million in outflows, probably due to recent network downtime issues.