Inflows into cryptocurrency investment products from March 9 to 15 amounted to $2.92 billion, up from $2.69 billion in the previous reporting period, according to a report by CoinShares.
This positive trend has continued for the seventh consecutive week.
Year-to-date inflows have reached $13.2 billion, compared to $10.6 billion for the entire year of 2021.
Trading volume matched the record $43 billion.
Assets under management surged to a record $96.65 billion, briefly crossing the $100 billion mark.
Market participants invested $2.86 billion in bitcoin-related instruments, up from $2.64 billion the previous week. These inflows accounted for 97% of the total across all digital assets.
Investments in structures allowing short positions on the leading cryptocurrency reached a yearly high of $26 million, compared to $11 million in the previous week. This inflow has continued for the fifth consecutive week.
Funds based on Ethereum, Solana, and Polygon saw outflows of $13.9 million, $2.7 million, and $6.8 million, respectively.
Earlier, analysts at Standard Chartered revised their year-end 2024 bitcoin target upwards from $100,000 to $150,000, and for Ethereum to $8,000.
In February, Bitwise’s Chief Investment Officer Matt Hougan predicted that the price of digital gold could exceed $80,000 in the foreseeable future thanks to the success of ETFs.