Digital asset investment funds have seen 4 weeks of inflows, totaling over $5.7 billion year-to-date. This puts 2024 assets under management (AUM) at about 55% of 2021’s record inflows, according to a recent CoinShares report.
The U.S. continues to lead regional flows, with $610 million entering last week. However, outflows from Grayscale dampened the overall U.S. numbers. Brazil, Switzerland, and Australia also saw minor inflows.
Bitcoin drove flows with $570 million entering funds last week, bringing its year-to-date total to $5.6 billion. Ethereum followed with $17 million in inflows. Meanwhile, blockchain equities saw $81 million in outflows, signaling investor skepticism.
Spot Bitcoin ETFs have been a constant presence since their January debut. BlackRock and Fidelity lead the space, accumulating over $10 billion combined despite their short time in the market. Experts predict this institutional demand could propel Bitcoin’s price back toward its all-time high if sustained.
Also Read: Crypto Funds Surge to Record $2.5 Billion Inflows Amid Bitcoin ETF Buzz
