Investments in digital assets surged by $1.1 billion, bringing the year-to-date total to $2.7 billion.

With the recent market recovery and subsequent price hikes, the total assets under management (AuM) have reached their highest point since early 2022, hitting $59 billion.

According to Coinshares’ latest edition of Digital Asset Fund Flows Weekly Report, Bitcoin dominated with nearly 98% of the inflows over the past week, raking in $1.09 billion.
CoinShares’ report revealed that Ethereum and Cardano also benefited in terms of weekly inflows, attracting $16 million and $6 million, respectively.
Minor inflows were observed in Avalanche, Polygon, and Tron, which amassed $0.5 million, $0.4 million, and $0.4 million, respectively.
Solana-focused digital asset products, on the other hand, only attracted $0.1 million, while XRP settled at $0.3 million during the same period. Uniswap and Short-Bitcoin experienced minor outflows, totaling $0.5 million and $0.4 million, respectively.
While blockchain equities overall saw outflows, these were primarily due to one issuer experiencing $67 million in outflows, while all others collectively received inflows totaling $19 million.
Regionally, the focus remained primarily on newly issued spot-based Bitcoin ETFs in the United States, which garnered a net inflow of $1.1 billion last week, reaching $2.8 billion since their January 11th launch.
Outflows from existing investments have slowed, but the potential sale of Genesis holdings worth $1.6 billion could lead to further outflows in the coming months, the asset manager speculated.
Outflows from other regions have decreased, with minor outflows from Canada and Germany totaling $17 million and $10 million, respectively. Switzerland, however, saw inflows of $35 million last week.

The post Bitcoin Commands 98% of Digital Asset Investment Products’ $1.1 Billion Inflows appeared first on CryptoPotato.

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Filed under: Bitcoin - @ February 13, 2024 5:13 am