Weekly Digital Asset Investment Surges to $1.1B, Bitcoin Dominates with 98%

Prominent crypto asset manager CoinShares has released a recent report detailing the weekly movement of funds through investment products related to crypto, such as Bitcoin (BTC).

In particular, the report revealed significant inflows of $1.115 billion into virtual asset investment products in the past week. It noted that the figure has contributed to year-to-date inflows amounting to $2.7 billion. 

Per the disclosure, this surge in inflows, combined with recent price increases, has propelled total assets under management (AuM) to their highest level since early 2022, reaching $59 billion.

U.S. ETFs Lead

Additionally, the report highlighted that regionally, attention remained on the recently approved spot-based Bitcoin exchange-traded funds (ETFs) in the United States.

It suggested that U.S. Bitcoin spot ETFs experienced a net inflow of $1.1 billion last week, totaling inflows of $2.8 billion since the January 11 approvals.

Among the U.S.-listed ETFs leading this charge are BlackRock’s iShares with 693.6 million positive flow and Fidelity ETFs with $522.6 million. Others, such as Grayscale and ProShares, witnessed negative flows. 

Meanwhile, CoinShares suggested that outflows from established entities have diminished notably compared to previous weeks.

Yet, it noted that the likely sale of the Genesis holdings, amounting to $1.6 billion, could trigger additional outflows in the forthcoming months.

Furthermore, CoinShares revealed that outflows from other non-U.S. funds have similarly subsided. Nonetheless, minor outflows from Canada and Germany have been observed. This amounted to $17 million and $10 million, respectively. 

Conversely, Switzerland experienced notable inflows of $35 million last week, with Australia and Brazil registering $800k and $100k respectively. Overall, the week-over-week inflow to crypto-based funds was at a positive $1.116 billion.

Bitcoin Leads Inflow Trend

Furthermore, the report highlighted that Bitcoin captured nearly 98% of the inflows with $1.089 billion. 

Meanwhile, Bitcoin’s price surge bolstered sentiment for Ethereum and Cardano, which witnessed inflows of $16 million and $6 million, respectively.

CoinShares observed minor inflows to Avalanche (AVAX), Polygon (MATIC), and Tron (TRX). These assets jointly recorded about $1.3 million.