Bitcoin Surge: $1.9B Inflows as US Eyes Crypto Reserve

Digital asset investment products saw a significant influx of $1.9 billion last week, according to CoinShares' latest weekly report. This surge in inflows comes on the heels of a recent presidential executive order proposing Bitcoin as a strategic reserve asset. The year-to-date (YTD) inflow total now stands at $4.8 billion.

Despite minor price fluctuations, trading volume remained robust at $25 billion, accounting for 37% of the total trading volume on trusted cryptocurrency exchanges. Bitcoin inflows were particularly high, reaching $1.6 billion last week, with a YTD inflow total of $4.4 billion, representing 92% of all inflows into the digital asset space.

Shorting of Bitcoin ETFs also garnered renewed attention, with $5.1 million in inflows. In the altcoin space, Ethereum saw a rebound in performance, attracting $205 million in inflows last week; XRP also attracted $18.5 million in inflows. Among other smaller digital assets, Solana, Chainlink, and Polkadot recorded inflows of $6.9 million, $6.6 million, and $2.6 million, respectively. Notably, there were no outflows from any digital asset investment products last week.