CoinShares: International Crypto Funds Record Highest Weekly Inflows Ever
According to CoinShares, international cryptocurrency funds managed by asset managers like BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares had net inflows of $3.13 billion for the seventh consecutive week, the highest amount ever recorded. Along with the recent spike in the price of bitcoin, the positive flows have also caused the year-to-date total to reach a new high of $153.3 billion in assets under management at the funds, according to research released on Monday by CoinShares Head of Research James Butterfill.
Year-to-date inflows now stand at a record $37 billion, driven primarily by bitcoin, far outpacing the debut of U.S. gold ETFs, which attracted just $309 million in their first year,
Butterfill
Bitcoin-Based Funds Attract $3 Billion in Inflows Amid Growing Market Demand
$3 billion in net inflows were recorded by Bitcoin-based funds worldwide. Higher prices, however, also led to an additional $10 million in inflows into short-bitcoin contracts, making the monthly total of $58 million the most since August 2022, according to Butterfill.
Bitcoin has been consolidating in the $95K–$99K range since Thursday, with its first attempt at $100K stalling due to a lack of institutional activity over the weekend. However, with improved entry points at the start of this week, we remain confident that retail and institutional demand will drive bitcoin past resistance in the coming weeks.
BRN analyst Valentin Fournier
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