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03/11/2024

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Report: Crypto Investment Products Saw Net Inflows of $2.7B Last Week

Investment products associated with top crypto assets recorded a whopping inflow of $2.7 billion last week, with Bitcoin (BTC) offerings leading the charge.  According to the latest edition of CoinShares’...

Report: Crypto Investment Products Saw Net Inflows of $2.7B Last Week

Investment products associated with top crypto assets recorded a whopping inflow of $2.7 billion last week, with Bitcoin (BTC) offerings leading the charge. 

According to the latest edition of CoinShares’ report, crypto investment products saw an astounding amount of inflow last week amid an ongoing market uptrend. 

Specifically, these products recorded almost $2.7 billion in inflow last week, bringing the year-to-date (YTD) total inflows to approximately $10.3 billion. 

It bears mentioning that the total inflow since the beginning of this year is just $300 million shy of the entire inflow in 2021, during the peak of the last bull market.  

Bitcoin Offerings Saw the Most Inflows 

Like every other week, Bitcoin-based offerings accounted for the majority of the total amount. Inflows to Bitcoin products reached $2.63 billion last week alone, putting the asset’s YTD flow to $9.96 billion. 

Notably, inflows into Bitcoin-based products were bolstered by investments into two major Bitcoin spot-based ETFs- BlackRock and Fidelity BTC funds.

While BlackRock’s iShares ETF saw a weekly inflow of $2.07 billion, Fidelity’s Bitcoin fund attracted $1.34 billion worth of investment within the same timeframe. 

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In addition to BlackRock and Fidelity’s Bitcoin funds, other BTC ETFs belonging to Ark Invest and 21Shares, as well as ProShares saw inflows of $187 million and $189 million, respectively. 

While the majority of Bitcoin spot ETFs recorded inflows, Grayscale Investment’s BTC fund witnessed negative flows amounting to $1.65 billion in the past week.  

Flows by providers
Flows by providers

Performance of Top Crypto Assets 

Meanwhile, investment products associated with other crypto assets like Solana (SOL), Cardano (ADA), and XRP saw inflows to the tune of $23.6 million, $800,000, and $1.5 million, respectively. 

However, the data shows that Ethereum (ETH) products recorded an outflow of $2.1 million in the past week. 

Other Stats 

Additionally, this week’s trading turnover hit $43 billion, smashing the previous week’s record of $30 billion. 

As per regional investments, the United States saw the most inflow, totaling $2.8 billion. Similarly, Switzerland, Brazil, and Australia attracted minor weekly inflows of around $20.6 million, $17.5 million, and $5.3 million, respectively. 

Furthermore, the total assets under management (AUM) have surged to $94.41 billion following an increase in crypto prices. Notably, crypto prices have been soaring lately thanks to the growing interest in digital assets among TradeFi investors. 

BTC set a new all-time high price of $72,282 in the early hours of today. The top asset achieved the feat before the highly anticipated Bitcoin Halving event, expected to take place in mid-April.

However, most other crypto assets have yet to break their previous ATH record, set in 2021. Bitcoin was trading at $72,262 at press time, up 4.1% over the past day. 

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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