The crypto market broke a series of impressive records last week. For the first time in history, Bitcoin rose above the $100,000 mark, while ether once again reached $4,000. This marks a new milestone in the world of digital assets.

Historic inflows in crypto investment products

Investors in crypto products poured a record amount of capital into the market. During the trading week of December 2 to 6, a staggering $3.85 billion was invested in crypto-related exchange-traded products (etps). This represents significant growth compared to the previous record of $3.12 billion set in November.

The surge of bitcoin to an all-time high of $104,000 on December 5 played a key role in this impressive inflow.

Bitcoin dominates with $2.5 billion in inflows

Bitcoin was the undisputed leader during this record-breaking week, attracting $2.5 billion in BTC investment products. This brings the total inflows for bitcoin in 2024 to $36.5 billion. Investors seem confident in the strong upward trend, although there is some caution about betting against the current momentum.

Ethereum sets records with $1.2 billion in inflows

Ethereum also achieved new milestones. Investment products tied to Ether recorded inflows of $1.2 billion, the highest ever. This increase was driven in part by ether surpassing the psychological $4,000 mark once again on December 6.

At the same time, Solana appears to be losing popularity, with $14 million in outflows. This marks the second consecutive week of negative figures for Solana.

Growing confidence in blockchain equities

In addition to cryptocurrencies themselves, blockchain equities saw a significant inflow of $124 million, the highest since January. This increase is attributed to improved confidence in bitcoin miners' profit margins.

ETFs strengthen the position of cryptocurrencies

The year 2024 is already a historic year for cryptocurrency ETFs, thanks in part to the introduction of spot bitcoin ETFs in the United States. On December 6, total bitcoin ETF holdings surpassed 1.1 million BTC for the first time, overtaking the estimated holdings of the enigmatic bitcoin creator Satoshi Nakamoto.

The future of the crypto market

These developments highlight the growing acceptance and trust in digital assets. As bitcoin and Ethereum reach new heights, the market remains dynamic and challenging. With more investors finding their way into this innovative sector, the question is not if, but how high the bar will be set in the future.