Bitcoin (BTC) continues to lead the digital asset market, driving $867 million in inflows last week, according to a recent CoinShares report published on May 12. This influx contributed to a total of $882 million in weekly inflows across crypto investment products, marking the fourth consecutive week of growth and pushing year-to-date inflows to $6.7 billion.
The surge in inflows is largely attributed to increased investor confidence amid rising global liquidity and inflation concerns in the U.S., with many viewing Bitcoin as a hedge against economic uncertainty. CoinShares analysts attribute the growing interest in BTC to macroeconomic factors such as the rise in M2 money supply and the risks associated with stagflation. Additionally, Bitcoin’s growing institutional appeal, underscored by several U.S. states formally recognizing it as a strategic reserve asset, continues to solidify its status as a digital safe haven.
U.S.-listed crypto ETFs have also hit a new milestone, with $62.9 billion in cumulative net inflows since January 2024, surpassing the previous high of $61.6 billion set in February. The U.S. was the primary driver of last week’s inflows, contributing $840 million, followed by Germany with $44.5 million and Australia at $10.2 million. However, Canada and Hong Kong experienced outflows of $8 million and $4.3 million, respectively.
Despite a sharp increase in Ethereum’s (ETH) price, it saw much lower inflows than Bitcoin, totaling just $1.5 million last week. On the other hand, Sui stood out, attracting $11.7 million and surpassing Solana (SOL), which saw $3.4 million in outflows.
Bitcoin’s strong performance isn’t just reflected in fund flows—its price also remains resilient. Currently trading at $103,853, it has gained 10.3% in the past week, with a 30-day increase of 24.5%, bringing it just 4.6% below its all-time high of $108,786.
