Crypto Investment Vehicles Rebound with $862M Inflows; Bitcoin’s Surge Drives Asset Growth
Crypto News – Last week, there was a notable resurgence in crypto-based investment vehicles, recording a cumulative influx of $862 million, as per insights shared by CoinShares analyst James Butterfill. This reversal of fortune comes on the heels of a prior week where funds managed by prominent asset managers like BlackRock, Fidelity, and Grayscale experienced unprecedented outflows amounting to $942 million, as reported by CoinShares at that time.
Boosted by last week’s surge in net inflows and the sustained ascent of Bitcoin’s price, which surpassed $70,000 for a significant portion of the week, the combined assets under management for all crypto funds tracked by CoinShares reached an impressive $97.9 billion.
Notably, the bulk of the activity remains concentrated in funds related to Bitcoin. According to CoinShares data, BlackRock and Fidelity’s spot Bitcoin ETFs each attracted inflows exceeding $600 million last week. Conversely, Grayscale’s spot Bitcoin ETF observed substantial outflows totaling $960 million, resulting in its assets under management settling around $35 billion.
Amidst this dynamic landscape, the Ark Invest 21 Shares spot Bitcoin fund stood out with an exceptional performance, registering over $300 million in net inflows. This is a stark contrast to the previous week when the fund, now boasting over $3 billion in assets under management, only attracted a modest $30 million in capital inflow.
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