The price of Bitcoin has pushed to reach new all-time highs above $72,000, spurred by record-breaking weekly inflows into crypto funds.

The price of Bitcoin has surged to reach new all-time highs above $72,000, following a record-breaking week of inflows into crypto exchange-traded products (ETPs).

According to a March 11 post from CoinShares analyst James Butterfill, crypto investment products generated a record-breaking $2.7 billion worth of inflows as of March 8.

Year-to-date crypto ETPs have generated $10.3 billion worth of inflows, which is already nearly on par with the total $10.6 billion worth of inflows crypto ETPs witnessed throughout the whole of 2021.

Bitcoin accounted for the lion’s share of this figure, seeing $2.6 billion in inflows year-to-date and currently representing 14% of the total crypto-related assets under management (AUM) worldwide.

Days later, on March 11, the price of Bitcoin rallied to reach a new all-time high of $72,900. The asset has since leveled out and is changing hands for around $72,000, up 6.9% in the last week and 29% over the last month, per TradingView data.

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Inflows into crypto ETPs have been spurred significantly by growing investment into the roster of recently-approved spot Bitcoin ETFs in the United States, which have now seen over $110 billion in total volume traded since their inception on Jan. 11.

Bloomberg ETF analyst James Seyffart noted that a total of five U.S. spot Bitcoin ETFs now held over $2 billion AUM, with crypto-native asset manager Bitwise’s BITB fund being the most recent addition to the club.

“Out of ~3,500 US ETPs there are only 445 with over $2 billion in assets,” Seyffart added.

In an analyst note viewed by Cointelegraph, IG market analyst Tony Sycamore predicted that the current rally could see Bitcoin’s price push toward $80,000 in the coming months, adding that the crypto asset would be “well supported” on any potential dips.

Mikkel Morch, the founder of digital asset investment fund ARK36 told Cointelegraph that Bitcoin’s new all-time high also coincided with the London Stock Exchange accepting Bitcoin and Ether (ETH) exchange-traded notes, as well as increased willingness from the United Kingdom Financial Conduct Authority to accept new crypto-related financial products.

“This significant regulatory shift not only reflects London’s intention to remain a key player in the financial world but also signals a broader acceptance and institutionalization of cryptocurrencies.”

Morch looked to the increasing regulatory acceptance of crypto assets internationally, the upcoming halving event, and the continued growth of Bitcoin ETF inflows as heralding a “new era of growth and mainstream adoption for cryptocurrencies.”

“The cumulative effect of these factors is likely to sustain the rally and foster a more robust and diversified investment landscape for digital assets,” he said.