Bitcoin investment products generated nearly half of the total weekly inflows, on a market capitalization-adjusted basis, Ether products were the most popular. Inflows into ETH investment funds rose by $5.4 million last week.
Total inflows increased for 21Shares and the Purpose exchange-traded fund but declined for CoinShares and virtually flatlined for Grayscale.
Despite the modest pullback in inflows, institutional investors remain a driving force behind the cryptocurrency bull market. As CoinShares reported last week, crypto assets held by institutional investment managers have topped $57 billion. And while Bitcoin and Ether continue to trade below all-time highs, the total cryptocurrency market capitalization rose to near-record levels on Monday. The total crypto market cap peaked just north of $1.83 trillion, according to CoinMarketCap.