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.
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However, the company 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.
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