The inflows into digital asset investment products have set a remarkable new record, exceeding $17.8 billion year-to-date (YTD).

This surge in investment suggests the potential beginning of a recovery in the cryptocurrency market.

Notably, the recent record-breaking figure follows a substantial influx of $1.44 billion into cryptocurrency investment products in the last week.

Based on data from CoinShares, the year-to-date inflows for 2024 have reached $17.8 billion, marking a substantial increase compared to the previous record of $10.6 billion set in 2021.

This surge in inflows indicates a significant uptick in investor interest and financial activity within this period.

The fifth-largest weekly inflow into Bitcoin, totaling over $1.35 billion, played a significant role in helping the world’s first cryptocurrency bounce back above the key $60,000 threshold. Investment products related to Bitcoin saw their largest weekly outflows since April 2024, totaling over $8.6 million.

Investor interest has been growing in anticipation of the launch of the first spot Ether exchange-traded fund (ETF) in the US. This ETF could start trading in the coming weeks, leading to increased capital inflows.

US spot Ether ETF issuers are eagerly awaiting final comments from the Securities and Exchange Commission, with industry sources indicating that a decision could be expected early this week.

This week, several issuers, including VanEck and 21Shares, have filed amended registrations in order to obtain final approval from the U.S. Securities and Exchange Commission (SEC) to begin listing spot Ether exchange-traded funds (ETFs). Currently, eight spot issuers are awaiting regulatory approval in the United States.

This development indicates a growing interest in offering investment products tied to the price of Ether, the native cryptocurrency of the Ethereum network.