According to data provided by CoinShares, exchange-traded products (ETPs) recorded a total of $5.95 billion worth of inflows last week.
Bitcoin ETPs alone account for the majority of the aforementioned sum ($3.55 billion).
Ethereum ETPs come in second place ($1.5 billion) while Solana ETPs come in third place ($706 million).
XRP ETPs also recorded a rather impressive $219 million in total assets.
The other ETPs have recorded rather negligible inflows. For instance, Cardano ETPs managed to attract only an infinitesimal $0.56 million worth of fresh money despite the fact that ADA is one of the largest coins by market cap.
Regional breakdown
The US is, of course, in first place with an enormous lead. It attracted virtually all of the aforementioned funds with $5 billion.
Switzerland comes in an extremely distant second place with $563 million.
Germany, the EU's biggest economy, rounds up the top 3 with $312 million.
Canada, a trailblazer in the crypto ETP field, is in fifth place with a total of $32.1 million.
Hong Kong's ETPs have attracted a relatively modest $5 million worth of fresh funds.
Major market rally
CoinShares has named the ongoing U.S. government shutdown as one of the key reasons behind the record-breaking ETP inflows. Investors are piling into crypto due to growing concerns about the government's instability.
Moreover, the recently released jobs data, which turned out to be surprisingly underwhelming, could end up accelerating the Federal Reserve's rate cuts and boost risk assets.
As reported by U.Today, Bitcoin rallied above $125,000 for the very first time last week before paring some gains.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team