The renewed appetite follows several weeks of tepid market sentiment and coincides with a recent crypto price rally. Notably, these inflows lifted total assets under management (AuM) to a fresh record of $244 billion.
The BlackRock fund’s record performance has contributed significantly to ETH-focused funds’ accumulation of a record $11 billion in new capital this year.
This was unchanged last week when the BTC-focused funds registered $522 million in new capital.
Notably, CoinShares highlighted that Ethereum’s YTD inflows now represent 29% of its AuM, far outpacing Bitcoin’s 11.6%. Despite this, Bitcoin remains the largest asset in terms of AuM, standing at $180.7 billion compared to Ethereum’s $37.7 billion.
Last week, funds focused on these digital assets registered over $300 million in combined fresh capital. This brings their year-to-date flows to over $2 billion, and their funds also manage more than $5 billion in assets.
Regionally, the United States accounted for nearly all of the inflows, contributing $3.73 billion, around 99% of the total. Other markets recorded smaller gains, including Canada with $33.7 million, Hong Kong with $20.9 million, and Australia with $12.1 million.
However, these gains were partially offset by outflows from Sweden and Brazil, which saw $49.9 million and $10.6 million withdrawn, respectively.
