Digital Asset Investment Products Saw Inflows $151 Million In The First Week Of 2024
Key Points:
- Digital asset investment products gained $151 million in the first week of 2024, reaching $2.3 billion since the Grayscale vs. SEC lawsuit.
- Bitcoin dominated with $113 million in inflows, constituting 3.2% of total assets, while short-bitcoin ETPs faced outflows.
- Ethereum attracted $29 million, while Cardano, Avalanche, and Litecoin also saw notable inflows.
In the initial week of 2024, digital asset investment products experienced significant inflows, totaling $151 million.
Digital Asset Investment Products Surge: $151 Million Inflows in 2024’s First Week
This brings the cumulative inflows since the resolution of the Grayscale vs. SEC lawsuit to $2.3 billion, constituting 4.4% of the total assets under management (AuM). Notably, even though the spot-based ETF is yet to launch in the US, 55% of the inflows originated from US exchanges. Germany and Switzerland closely followed, accounting for 21% and 17%, respectively.
Bitcoin dominated the share of digital asset investment products, securing $113 million. Over the last nine weeks, Bitcoin’s inflows represented 3.2% of AuM. Conversely, short-bitcoin observed outflows, totaling $1 million in the first week of the year. Despite speculations surrounding a potential “buy the rumor, sell the news” scenario with the US ETF launch, short-bitcoin ETPs witnessed outflows amounting to $7 million in the last nine weeks.
Ethereum showcased a positive trend, attracting inflows of $29 million, contributing to a total of $215 million over the past nine weeks. However, Solana faced challenges at the start of the year, with outflows totaling $5.3 million.
Several altcoins experienced notable inflows, including Cardano ($3.7 million), Avalanche ($2 million), and Litecoin ($1.4 million).
In addition to cryptocurrency trends, blockchain equities displayed a robust performance, witnessing inflows of $24 million in the first week of the year. This indicates a promising start for digital assets and blockchain-related investments in 2024.
| 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
Market
Digital Asset Investment Products Saw Inflows $151 Million In The First Week Of 2024
Key Points:
- Digital asset investment products gained $151 million in the first week of 2024, reaching $2.3 billion since the Grayscale vs. SEC lawsuit.
- Bitcoin dominated with $113 million in inflows, constituting 3.2% of total assets, while short-bitcoin ETPs faced outflows.
- Ethereum attracted $29 million, while Cardano, Avalanche, and Litecoin also saw notable inflows.
In the initial week of 2024, digital asset investment products experienced significant inflows, totaling $151 million.
Digital Asset Investment Products Surge: $151 Million Inflows in 2024’s First Week
This brings the cumulative inflows since the resolution of the Grayscale vs. SEC lawsuit to $2.3 billion, constituting 4.4% of the total assets under management (AuM). Notably, even though the spot-based ETF is yet to launch in the US, 55% of the inflows originated from US exchanges. Germany and Switzerland closely followed, accounting for 21% and 17%, respectively.
Bitcoin dominated the share of digital asset investment products, securing $113 million. Over the last nine weeks, Bitcoin’s inflows represented 3.2% of AuM. Conversely, short-bitcoin observed outflows, totaling $1 million in the first week of the year. Despite speculations surrounding a potential “buy the rumor, sell the news” scenario with the US ETF launch, short-bitcoin ETPs witnessed outflows amounting to $7 million in the last nine weeks.
Ethereum showcased a positive trend, attracting inflows of $29 million, contributing to a total of $215 million over the past nine weeks. However, Solana faced challenges at the start of the year, with outflows totaling $5.3 million.
Several altcoins experienced notable inflows, including Cardano ($3.7 million), Avalanche ($2 million), and Litecoin ($1.4 million).
In addition to cryptocurrency trends, blockchain equities displayed a robust performance, witnessing inflows of $24 million in the first week of the year. This indicates a promising start for digital assets and blockchain-related investments in 2024.
| 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
Decoding BDAG’s AMA: A Blueprint for Scalable Blockchain and Enhanced Community Ties
Best Cryptos with 1000X Potential: Qubetics Revolutionises Blockchain as Polkadot and Cosmos Shape the Future
Best Coins to Buy in December 2024: Qubetics Offer 630% ROI, Polkadot Delivers on Interoperability and Near Protocol’s Scalability is Talk of the Town
Press Release
Decoding BDAG’s AMA: A Blueprint for Scalable Blockchain and Enhanced Community Ties
Best Cryptos with 1000X Potential: Qubetics Revolutionises Blockchain as Polkadot and Cosmos Shape the Future
