Bitcoin Leads the Charge as Digital Asset Funds Attract $1.35B in Weekly Inflows

According to the latest report from CoinShares, the digital asset funds attracted $1.35 billion in inflows in just one week, bringing the total inflows over the past three weeks to $3.2 billion.

Digital asset funds attracted a staggering $1.35 billion in inflows last week, continuing a three-week trend that has now seen a total of $3.2 billion pouring into the funds.

Bitcoin Leads with $1.27 Billion in Weekly Inflows

Bitcoin led the way once again, drawing in $1.27 billion in inflows. This bullish sentiment was further highlighted by a $1.9 million outflow from short-Bitcoin exchange-traded products (ETPs). Since March, these short-Bitcoin products have now seen a total of $44 million in outflows, which represents over 55% of their assets under management (AUM). According to market analysts, this indicates a growing bullish market sentiment, especially after the Bitcoin halving event in April.

Also Read: US Bitcoin ETFs Record $17 Billion in Net Inflows

Ethereum, the second-largest cryptocurrency by market capitalization, also had a strong week, attracting $45 million in inflows. This brings Ethereum’s year-to-date (YTD) inflows to $103 million. The surge in inflows has now seen Ethereum overtake Solana as the altcoin with the highest YTD inflows. However, Solana also had a strong week, pulling in $9.6 million and boasting YTD inflows of $71 million.

United States Leads the Way with $1.3B in Weekly Digital Asset Inflows

The United States dominated the investment scene, accounting for a weekly inflow of $1.3 billion. Switzerland also made a significant contribution with $66 million, while Brazil and Hong Kong saw minor outflows of $5.2 million and $1.9 million, respectively.

Crypto market trading activity also saw a significant uptick last week, with ETP trading volumes surging by 45% week-on-week to reach $12.9 billion. However, it’s worth noting that this still only represents around 22% of the broader crypto market volumes, which is lower than usual.

Blockchain Equities Faced Challenges with $8.5 Million in Outflows

In an interesting contrast to the inflows into digital assets, blockchain equities faced some challenges last week, seeing outflows of $8.5 million. This occurred despite most ETFs outperforming world equity indices.

The surge in crypto investments aligns with trends in the traditional financial world. BlackRock, one of the largest asset managers, recently reported a record $10.6 trillion in assets under management as of the end of the fourth quarter. This growth marks a $1.2 trillion year-over-year growth for the firm. BlackRock’s CEO, Larry Fink, attributed the growth to private markets, retail investors, and surging flows into the firm’s ETFs.

The above is the detailed content of Bitcoin Leads the Charge as Digital Asset Funds Attract $1.35B in Weekly Inflows. For more information, please follow other related articles on the PHP Chinese website!