Digital asset funds hit record $31.3B inflows as Bitcoin leads the charge

Share This Post

Digital asset funds saw inflows of $1.2 billion last week, marking a fifth straight week of positive momentum, according to crypto asset manager CoinShares.

The increase pushed year-to-date inflows to an unprecedented $31.3 billion, bringing global assets under management to a record $116 billion.

CoinShares’ head of research, James Butterfill, highlighted that trading volumes for exchange-traded products (ETPs) jumped to $20 billion during this period—their highest level since April.

Bitcoin and US lead inflows

CoinShares reported that Bitcoin captured $1.8 billion in inflows last week, contributing to a $9 billion influx since the Federal Reserve’s interest rate cut in September.

Butterfill attributed this momentum to favorable macroeconomic conditions and significant changes in the US political landscape that bolstered investors’ confidence in the market. He stated:

“A combination of a supportive macro environment and seismic shifts in the US political system being the likely reason for such supportive investor sentiment.”

Notably, US-based funds accounted for $1.95 billion of the $1.98 billion in inflows, followed by Switzerland at $23 million and Germany at $20 million.

Notably, the US Bitcoin ETF sector remained especially active, with BlackRock’s IBIT fund drawing in roughly $1.3 billion, while outflows from Grayscale’s products continued to decline.

Market observers noted that the strong inflows into IBIT indicate a growing interest in Bitcoin-backed financial products. In addition, these flows also point to the broader trend of digital assets gaining traction within mainstream investment portfolios.

Ethereum and altcoins show renewed interest

Ethereum also experienced a surge in inflows, drawing $157 million, its highest weekly figure since exchange-traded funds launched in July. This uptick signals a renewed interest in ETH among institutional investors.

Other altcoins saw modest gains as well. Solana, Uniswap, and TRON posted inflows of $3.9 million, $1 million, and $0.5 million, respectively.

Meanwhile, blockchain equities attracted an additional $61 million, underscoring rising demand across the digital asset space.

The post Digital asset funds hit record $31.3B inflows as Bitcoin leads the charge appeared first on CryptoSlate.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Pennsylvania House Moves To Add Bitcoin To State Balance Sheet As Reserve Asset

As President-elect Donald Trump prepares to take office again in January, his proposal to create a national Bitcoin reserve is gaining momentum across the United States  Several states are now

Tether Launches Hadron; Aims To Make Asset Tokenization More Accessible Than Ever

The post Tether Launches Hadron; Aims To Make Asset Tokenization More Accessible Than Ever appeared first on Coinpedia Fintech News Tether, the crypto firm behind USDT, revealed on Thursday that it

Best Cryptocurrencies to Invest in Right Now – Flow, BNB, ZetaChain

Bitcoin recently hit a new all-time high of $89,000, sparking positive movement across several major altcoins Altcoins tend to follow Bitcoin’s price trends, so other

Crypto Dad Giancarlo dismisses SEC chair rumors, critiques Gensler’s legacy

Former Commodity Futures Trading Commission (CFTC) Chair Christopher Giancarlo denied rumors about being considered as the next Chair of the US Securities and Exchange Commission (SEC)  He also

Top Crypto Gainers Today Nov 14 – Curve DAO Token, Bitcoin SV, Jito, Fasttoken

Today’s top crypto gainers showcase an exciting mix of momentum and innovation, led by Curve DAO, Bitcoin SV, Jito, and Fasttoken From Curve’s scrvUSD launch

Trump’s Dollar Boom Spells Doom for Zambia’s Recovery

Zambia’s central bank governor, Denny Kalyalya, is sounding the alarm about the strengthening US dollar’s impact on Zambia’s economy A stronger dollar, fueled by Donald