BTC, ETH, DOGE: Crypto Funds Boast Record $188 Billion of Assets Under Management

Cryptocurrency investment funds continue to attract investor capital and now have a record $188 billion of assets under management (AUM).

Investment funds for crypto such as Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) attracted $1.04 billion of new money over the past week, extending a 12-week streak that has seen a total of $18 billion flow into exchange-traded funds (ETFs) and other investment vehicles.

With a lift from rising prices, assets under management (AUM) have now risen to a record $188 billion among crypto funds. The U.S. continues to dominate the activity with $1 billion of inflows, dwarfing Germany’s $38.5 million and Switzerland’s $33.7 million.

BTC Strength

Bitcoin continues to be the standout among crypto ETFs, drawing in $790 million over the past week and helping to push the price of BTC near an all-time high. Year-to-date, U.S.-listed spot Bitcoin ETFs have attracted $14.5 billion of net inflows and control nearly $128 billion in assets.

BlackRock’s (BLK) iShares Bitcoin Trust ETF (IBIT) continues to lead the pack with $73.6 billion of assets under management. Ethereum funds are also performing well, notching an 11th straight week of inflows with $226 million added in the past week.

There are also rising hopes that the U.S. Securities and Exchange Commission (SEC) will approve spot ETFs for other cryptos such as Solana (SOL) and XRP (XRP) this year. Futures traders are currently betting that there’s a 95% chance the SEC approves a batch of new crypto ETFs by year’s end.

Is BTC a Buy?

Most Wall Street firms don’t offer ratings or price targets on cryptocurrencies such as Bitcoin, so we’ll look instead at its three-month performance. As one can see in the chart below, the price of BTC has risen 40.99% in the last 12 weeks.