Inflows into cryptocurrency investment products from March 2 to March 8 reached $2.69 billion, up from $1.83 billion in the previous reporting period, according to a review by CoinShares.
This positive trend has continued for the sixth consecutive week.
The previous record of $2.45 billion was set from February 10 to February 16.
Year-to-date inflows have reached $10.3 billion, comparable to the record $10.6 billion for the entire year of 2021.
Trading volume hit $43 billion, surpassing the previous week’s record of $30 billion.
Assets under management (AUM) surged to a historic high of $94.4 billion. Since the last review, this figure has increased by 14%, and by 88% since the beginning of the year.
Market participants invested $2.64 billion in bitcoin-related instruments, up from $1.73 billion in the previous reporting period. Year-to-date inflows have accounted for 14% of AUM.
Clients invested $11 million in structures allowing short positions on the leading cryptocurrency, down from $22.2 million the previous week.
Ethereum funds recorded a slight outflow of $2.1 million following a peak inflow of $84.7 million since mid-2022.
Negative trends in Solana (-$11.9 million the previous week) reversed with inflows of $24 million.
Other altcoins showed predominantly positive trends. Products based on Polkadot, Fantom, Chainlink, and Uniswap saw inflows of $2.7 million, $2 million, $2 million, and $1.6 million, respectively.
Earlier, IntoTheBlock identified five factors that could push bitcoin’s price above $70,000 in the coming months.
In February, Bitwise’s Chief Investment Officer Matt Hougan predicted that the price of digital gold would exceed $80,000 in the foreseeable future due to the success of ETFs.