Crypto News– According to CoinShares, crypto investment products provided by asset managers such as Ark Invest, Bitwise, BlackRock, Fidelity, Grayscale, ProShares, and 21Shares recorded their fourth consecutive week of inflows, amassing $598 million globally last week.
spot Bitcoin ETFs: The cryptocurrency investment sector witnessed an influx of close to 600 million Dollars, with spot Bitcoin ETFs taking the lead in attracting investments
Year-to-date, inflows have surpassed $5.7 billion, with spot Bitcoin exchange-traded funds (ETFs) in the United States leading the charge, accounting for over 50% of the total inflows seen in all of 2021, as stated by CoinShares’ Head of Research, James Butterfill.
Although total assets under management in these funds peaked at $68.3 billion during the week, they still remain more than 20% below the all-time high set in November 2021, reflecting Bitcoin’s price trajectory during the same period. In terms of regions, U.S.-based funds saw the largest inflows, totaling approximately $610 million, despite a $436 million outflow from Grayscale. Brazil and Switzerland also experienced minor inflows of $8.2 million and $2.1 million, respectively. However, the Canadian market witnessed the largest outflows from digital asset investment products, shedding $17.8 million.
Bitcoin-based funds attracted $570 million in inflows last week, largely propelled by over $588 million in net flows from spot Bitcoin ETFs in the U.S. Year-to-date, Bitcoin-based funds have garnered $5.6 billion in inflows. Notably, the net flows for spot Bitcoin ETFs alone, which debuted on January 11, now exceed $5.5 billion, according to data from BitMEX Research.
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