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Inflows into crypto investment products have ballooned in the past few weeks to reach a record trading volume last week. According to CoinShares, digital asset investment products received inflows of $1.84 billion last week, the second-highest on record. Particularly noteworthy is that the inflow into crypto funds caused trading volume to cross over a weekly volume of $30 billion for the first time. Institutions Rush To Crypto Weekly trading volume in investment products has now displaced its 2021 record to cross over $30 billion. The timing is not a coincidence, as most cryptocurrencies are currently on the backs of bullish price action for the past few weeks. Related Reading: Cardano On-Chain Fundamentals Point To Massive Rally, Is $10 Possible? Recent market dynamics have seen institutions and large traders rushing into crypto assets, most especially Bitcoin. Consequently, this cohort has become a large part of the crypto industry, contributing highly to a surge in trading volume across the board.  As expected, the majority of inflows and trading volume was centered around Bitcoin. Bitcoin remains the most popular digital asset for institutions, and interest has really piqued since Spot Bitcoin ETFs went live in the US. Last week, the weekly trading volume for Spot Bitcoin ETFs alone crossed a record $22.3 billion. The ETFs ended the week at a net inflow of $1.72 billion, despite an outflow of $1.45 billion from Grayscale’s ETF. According to CoinShares, around $1.73 billion, representing 94% of the total inflow into investment products, went into Bitcoin last week. The company also noted that investment products at times represented 50% of global Bitcoin daily trading volumes on exchanges.  Ethereum led the altcoin market with a net inflow of $84.7 million, bringing its total net inflow this year to $137 million. This is Ethereum’s largest weekly inflow since mid-July 2022. However, its current $14.6 billion worth of assets under management is 38% below its all-time high of $23.7 billion. XRP, Chainlink, and Litecoin registered inflows of $2.5 million, $1.6 million, and $1.2 million, respectively. Short investors also poured $22 million inflows into short-Bitcoin investment products. Related Reading: Shiba Inu Blasts Into Top 10 Crypto Following 175% Price Surge On the other hand, Solana registered an outflow of $11.9 million last week. Its year-to-date flow has yet to turn positive, as it has been $14 million in outflows since the beginning of the year. Multi-asset products also saw outflows of $0.3 million.  In terms of geographical location, the USA had the most inflows with $1.88 billion, Switzerland with $19.6 million, Australia with $3.7 million, and Brazil with $2.7 million. On the other hand, Canada, Germany, and Sweden had net outflows of $23.1 million, $34.8 million, and $31.6 million, respectively.  Total market cap at $2.44 trillion | Source: Crypto Total Market Cap on Tradingview.com Featured image from BitIRA, chart from Tradingview.com