Digital Asset Fund Inflows Exceeds $1 Billion Mark in 7 Weeks
Key Points:
- Digital asset fund saw a record $293 million inflow last week, pushing the 7-week total past $1 billion for the year.
- Bitcoin’s year-to-date inflows reached $1.08 billion, with Bitcoin ETP trading volumes representing 19.5% of total Bitcoin trading.
- Ethereum marked its highest inflows since August 2022 at $49 million.
In the past week, the digital asset fund recorded a remarkable inflow of $293 million, marking the seventh consecutive week of positive flows and pushing the 7-week total past the significant $1 billion milestone, according to the CoinShare report.
Digital Asset Fund Soars, Crossing $1 Billion Yearly Inflows Mark
Year-to-date, digital asset fund inflows have reached an impressive $1.14 billion, securing the third-highest yearly inflow on record. This surge has elevated total assets under management (AuM) by 9.6% in the last week alone and an impressive 99% since the beginning of the year, now standing at a substantial $44.3 billion—the highest since the notable digital asset fund failures in May 2022.
Bitcoin Exchange-Traded Product (ETP) trading volumes surged to represent 19.5% of total Bitcoin trading volumes on reputable exchanges. This unusual occurrence suggests that ETP investors are significantly engaging in the current rally compared to the 2020/21 period.
Bitcoin Dominance and Ethereum’s Resurgence Shape Record-Breaking Week
Bitcoin attracted inflows of $240 million last week, contributing to a year-to-date total of $1.08 billion. Meanwhile, short-bitcoin experienced outflows of $7 million, indicating a prevailing positive sentiment in the market.
Ethereum witnessed its most substantial inflows since August 2022, totaling $49 million. The past two weeks have marked a notable turnaround in sentiment, likely influenced by the recent spot-based ETF listing request in the United States. Additionally, Solana experienced increased inflows amounting to $12 million.
In the realm of blockchain equity ETFs, a noteworthy influx of $14 million was recorded, marking the highest since July 2022 and bringing year-to-date flows into positive territory at $11 million. The digital asset market continues to showcase resilience and investor confidence, setting new records and reflecting the evolving dynamics of the crypto landscape.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Author
News
Digital Asset Fund Inflows Exceeds $1 Billion Mark in 7 Weeks
Key Points:
- Digital asset fund saw a record $293 million inflow last week, pushing the 7-week total past $1 billion for the year.
- Bitcoin’s year-to-date inflows reached $1.08 billion, with Bitcoin ETP trading volumes representing 19.5% of total Bitcoin trading.
- Ethereum marked its highest inflows since August 2022 at $49 million.
In the past week, the digital asset fund recorded a remarkable inflow of $293 million, marking the seventh consecutive week of positive flows and pushing the 7-week total past the significant $1 billion milestone, according to the CoinShare report.
Digital Asset Fund Soars, Crossing $1 Billion Yearly Inflows Mark
Year-to-date, digital asset fund inflows have reached an impressive $1.14 billion, securing the third-highest yearly inflow on record. This surge has elevated total assets under management (AuM) by 9.6% in the last week alone and an impressive 99% since the beginning of the year, now standing at a substantial $44.3 billion—the highest since the notable digital asset fund failures in May 2022.
Bitcoin Exchange-Traded Product (ETP) trading volumes surged to represent 19.5% of total Bitcoin trading volumes on reputable exchanges. This unusual occurrence suggests that ETP investors are significantly engaging in the current rally compared to the 2020/21 period.
Bitcoin Dominance and Ethereum’s Resurgence Shape Record-Breaking Week
Bitcoin attracted inflows of $240 million last week, contributing to a year-to-date total of $1.08 billion. Meanwhile, short-bitcoin experienced outflows of $7 million, indicating a prevailing positive sentiment in the market.
Ethereum witnessed its most substantial inflows since August 2022, totaling $49 million. The past two weeks have marked a notable turnaround in sentiment, likely influenced by the recent spot-based ETF listing request in the United States. Additionally, Solana experienced increased inflows amounting to $12 million.
In the realm of blockchain equity ETFs, a noteworthy influx of $14 million was recorded, marking the highest since July 2022 and bringing year-to-date flows into positive territory at $11 million. The digital asset market continues to showcase resilience and investor confidence, setting new records and reflecting the evolving dynamics of the crypto landscape.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Other Posts
Related Posts
Latest
USDC and CCTP to launch on Aptos, with Stripe adding Aptos support in crypto products
Best Cryptos to Buy: Qubetics Set to Rise, Bitcoin Knocks at $100k Milestone, Avalanche to Release 1.67M Tokens
Ike Goes Live on Mainnet: Unlocking Liquid Staking on Aleph Zero
Press Release
USDC and CCTP to launch on Aptos, with Stripe adding Aptos support in crypto products
Best Cryptos to Buy: Qubetics Set to Rise, Bitcoin Knocks at $100k Milestone, Avalanche to Release 1.67M Tokens
