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Cash is pouring into crypto exchange-traded funds at a record rate.
A whopping $5.95 billion in weekly inflows entered institutional funds in just one week, reports CoinShares, with Bitcoin leading the pack.
BTC pulled in $3.55 billion from September 29th to October 3rd, the second-highest week ever.
Ethereum funds drew $1.48 billion, boosting year-to-date ETP inflows to $13.7 billion.
That’s three times higher than last year’s total.
Meanwhile, Solana set a new high with $706.5 million, while XRP nabbed $219.4 million.
The US poured in $5 billion, with Switzerland at $563 million and Germany at $312 million.
Overall, total crypto assets under management have topped $254 billion.
Rapid inflows in recent months have left the amount of Bitcoin on exchanges hit a six-year low, with 114,000 BTC worth about $14 billion leaving platforms in two weeks, per Glassnode.
