CoinShares, a prominent crypto asset management company, released a recent report detailing the weekly movement of funds through investment products related to crypto assets such as Bitcoin (BTC).
Notably, the report revealed that there was a significant inflow of $1.115 billion into crypto asset investment products over the past week. It pointed out that this figure contributed to capital inflows of $2.7 billion since the beginning of the year.
This surge in inflows and recent price increases have pushed total assets under management (AuM) to $59 billion, the highest level since early 2022, according to the disclosure.
US ETFs lead
Additionally, the report highlighted that regionally, there is continued focus on spot-based Bitcoin exchange traded funds (ETFs), which were recently approved in the United States.
It suggested that the US Bitcoin Spot ETF experienced net inflows of $1.1 billion last week, with total inflows of $2.8 billion since its approval on January 11th.
Among the U.S.-listed ETFs leading the charge are BlackRock's iShares with $693.6 million in positive flows and Fidelity ETF with $522.6 million. Other companies, such as Grayscale and ProShares, saw negative trends.
Meanwhile, CoinShares indicated that outflows from existing entities decreased significantly compared to the previous week.
– Advertisement –
However, it noted that the potential sale of its $1.6 billion Genesis stake could trigger further outflows in the coming months.
Additionally, CoinShares revealed that outflows from other non-US funds have subsided as well. Nevertheless, small exodus from Canada and Germany have been observed. This amounted to $17 million and $10 million respectively.
Conversely, Switzerland saw a notable inflow of $35 million last week, while Australia and Brazil recorded $800,000 and $100,000 respectively. Overall, week-on-week inflows into cryptocurrency-based funds were positive by $1.116 billion.
Bitcoin leads inflow trend
The report further highlighted that Bitcoin accounted for almost 98% of the $1.089 billion inflow.
Meanwhile, the soaring price of Bitcoin boosted the momentum of Ethereum and Cardano, which recorded inflows of $16 million and $6 million, respectively.
CoinShares observed small inflows into Avalanche (AVAX), Polygon (MATIC), and Tron (TRX). These assets had a combined value of approximately $1.3 million.
Please follow us upon twitter And Facebook.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the personal opinions of the author and do not reflect the opinions of The Crypto Basic. We encourage our readers to conduct thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.
-advertisement-
