Cryptocurrency investment products saw strong inflows with Bitcoin hitting $118,000. Global crypto ETPs had $3.7 billion inflows last week, reaching $22.7 billion YTD. Total AUM for crypto funds hit $211 billion, with Bitcoin ETPs leading with $2.7 billion inflows.

Bitcoin ETPs saw a notable recovery with multibillion-dollar inflows after hitting new highs. Daily inflows in Bitcoin ETFs jumped above $1 billion as BTC reached $112,000. Bitcoin ETPs now have $179.5 billion AUM, equaling 54% of gold ETP assets.

Ether ETPs had their 12th consecutive week of inflows, totaling $990 million, the fourth-largest on record. XRP ETPs had the largest weekly outflows of $104 million, while Solana saw $92.6 million inflows. Inflows were spread across all US-based issuers, with BlackRock’s iShares leading with $2.4 billion.

US-based issuers saw broad inflows, with BlackRock’s iShares attracting $2.4 billion. Fidelity Investments and ARK Invest followed with $400 million and $339 million, respectively. European issuers like CoinShares experienced minor outflows of $16 million.

Read more at Cointelegraph: Crypto ETPs See 3.7B Inflows As Bitcoin Surges Past $118K