Bitcoin Drives $882M Weekly Inflows into Digital Assets

Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com Bitcoin (BTC) continues to flex its dominance as the top digital asset, attracting $867 million in inflows last week alone, according to a fresh CoinShares report published on May 12.This influx led the broader crypto investment products market, which collectively saw $882 million in inflows, marking the fourth consecutive week of gains and lifting year-to-date totals to $6.7 billion.Record ETF InflowsThe surge in investor confidence comes against a backdrop of rising global liquidity and inflationary concerns in the U.S., which have sparked renewed interest in crypto as a hedge.According to CoinShares analysts, the uptick in inflow is mainly due to a confluence of macroeconomic factors, including a rise in M2 money supply and heightened stagflation risks. Additionally, BTC’s growing institutional appeal, crowned by several U.S. states formally recognizing the flagship cryptocurrency as a strategic reserve asset, is helping to cement its role as a digital safe haven.The CoinShares report showed that U.S.-listed crypto ETFs have now reached a record $62.9 billion in cumulative net inflows since launching in January 2024, topping the previous peak of $61.6 billion recorded in early February.Regionally, the United States was the main driver of last week’s activity, with $840 million in inflows, followed by Germany, which raked in $44.5 million, and Australia, which attracted $10.2 million. The story was different for Canada and Hong Kong, which registered outflows of $8 million and $4.3 million, respectively.Ethereum Struggles for TractionCoinShares also noted that despite a sharp rise in the price of Ethereum (ETH) in recent days, its inflows still lagged significantly behind BTC, tallying just $1.5 million last week.Sui drew attention, attracting $11.7 million and outperforming Solana (SOL), which lost $3.4 million worth of capital. Additionally, Sui has accumulated $84 million year-to-date, overtaking SOL’s $76 million and possibly signaling a shift in investor sentiment within the Layer-1 ecosystem.Apart from shining in fund flows, from a price perspective, Bitcoin also looks to be maintaining its momentum. At the time of this writing, it was trading at $103,853, down a modest 0.8% in the past 24 hours. However, in the last week, it has gained 10.3%, moving within a 7-day range of $93,724 to $104,710, according to CoinGecko.While it has slightly underperformed the broader crypto market, which went up 13.3% in the previous seven days, the number one crypto asset’s 30-day performance is solid, gaining 24.5% in that time. It remains just 4.6% below its all-time high of $108,786.SPECIAL OFFER (Sponsored)Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!Source link