Crypto Euphoria: Digital Asset Funds Sees $2.4 Billion Inflows – Here Are The Key Factors Behind It

2024-2-20 00:00

CoinShares, a crypto asset management firm, has recently reported that there has been a notable surge in weekly inflows into crypto asset investment products, reaching a record high of $2.45 billion. The cumulative inflows for the year-to-date period have now reached $5.2 billion.

According to the firm’s Head of Research, James Butterfill, the recent surge in capital inflow, along with positive price trends, has led to a notable rise in the company’s total assets under management (AuM), which now stands at $67 billion, representing the “highest level” recorded “since December 2021.”

Regional Dynamics And Crypto Asset Allocation Trends

The United States emerged as the primary destination for this wave of funds, representing roughly 99% of the weekly inflows, totaling $2.4 billion. In contrast, Switzerland and Germany-based funds experienced moderate inflows, while Sweden saw significant outflows.

Butterfill disclosed that the surge in net inflows, combined with decreased outflows from established entities like Grayscale’s GBTC fund, indicates a growing interest among investors in new US spot Bitcoin ETFs.

It’s worth noting that Bitcoin investment products took center stage, capturing 99% of last week’s inflows. Additionally, there was increased interest in short-bitcoin products, highlighting the diverse investment strategies prevailing in the market.

Ethereum has also experienced positive outcomes, with inflows totaling $21 million. However, as for Solana, Butterfill noted that “the recent downtime from Solana has impacted sentiment,” resulting in outflows amounting to $1.6 million.

Avalanche, Chainlink, and Polygon, on the other hand, have each seen a modest amount of inflows, making the assets “stand out” for consistently attracting weekly inflows throughout the year, as reported by Butterfill.

Expert Perspectives On Spot Bitcoin ETFs

While the introduction of the new US spot Bitcoin ETFs has generated enthusiasm within the crypto community, not everyone shares the same sentiment. Jim Bianco, President and Macro Strategist at Bianco Research, has expressed skepticism about the long-term implications of these spot ETFs.

Bianco has criticized the centralized nature of spot Bitcoin ETFs, labeling them as an “ambition of failure” that could undermine the decentralized principles of Bitcoin. The Macro Strategist argues that relying on these spot ETFs risks entangles Bitcoin in the centralized financial system, contrary to its core ethos of decentralization and immutability.

Bianco’s remarks underscore the debate surrounding the integration of traditional financial instruments with emerging digital assets. Despite differing opinions, Bitcoin’s upward trajectory continues, with the cryptocurrency witnessing a 6.8% increase in the past week alone.

Trading above $52,000 at the time of writing, Bitcoin’s resilience is also reflected in its daily trading volume, which has stood above $20 billion over the past 7 days.

Featured image from Unsplash, Chart from TradingView

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Emerald Crypto (EMD) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 4.67 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0095806 (-100%)

crypto asset inflows billion notable surge weekly

crypto asset → Результатов: 126


RWA Tokenization: A Bullish Catalyst in the Crypto Bull Market – Analysts Highlight This Major Project

The concept of real-world asset (RWA) tokenization is gaining significant traction among institutional investors seeking diversified portfolios. This trend bridges the gap between traditional financial assets and digital currencies, offering a novel approach to asset management as noted via Crypto Busy’s X platform account.

2024-4-16 19:15


FalaBlock — The Most Stable Option of Asset Appreciation in the Crypto Winter

Coinspeaker FalaBlock — The Most Stable Option of Asset Appreciation in the Crypto Winter FalaBlock is exploring effective methods for the steady growth of the value of crypto assets at the bottom of the crypto bear, provides users with asset management services based on crypto Hash Rate, and propose innovative solutions for traditional assets merging into Web3.

2022-12-15 23:32


Фото:

В кошельках Nano S от Ledger появилась поддержка криптовалюты Tezos

Производитель аппаратных кошельков Ledger добавил в устройства Nano S поддержку криптовалюты Tezos. We are thrilled to welcome a new crypto asset to the Ledger platform with @tezos. The Tezos app is now available on Ledger Live for the Ledger Nano S.

2019-1-23 18:11


Фото:

Bitcoin Remains Firm amid Mixed Newsflow: BTCManager’s Week in Review January 21, 2019

The price of bitcoin remains firm, gaining two percent week-on-week, amid a mix of positive and negative news. The announcement by Bakkt that it has made its first acquisition shows that the institutional crypto trading venture is on track to become a serious player in the institutional digital asset trading market and has the potential to attract a wave of.

2019-1-22 20:00


Crypto Investor: Bitcoin May Retest $20,000 With Next Wave Of Adoption

Since Bitcoin (BTC) breached the monumental $20,000 price milestone and subsequently crashed, crypto investors en-masse have sought to determine when the asset would retest five-digits. While an array of crypto pundits have speculated, throwing their zany predictions into the crockpot that is Twitter, the date of the next parabolic rally’s commencement is still elusive.

2019-1-21 21:00


Why we could start considering crypto market rotations and liquidity flows

As the breadth of crypto asset sectors is becoming as diverse as that in traditional markets, it is potentially a good time to consider sectoral rotations and liquidity flows during certain stages of market cycles — with the goal being to develop an overarching strategy and roadmap for selecting the right crypto assets at the right time, to invest or trade in.

2019-1-19 23:00


Фото:

Markets Update: Crypto Prices Drift Sideways While Traders Remain Uncertain

A lot has changed since our last markets update as digital asset prices have been consolidating after the cryptoconomy’s last big drop in value. The entire ecosystem’s market valuation has lost about $10 billion over the last week, but stronger global trade volumes have managed to keep values afloat at current prices as traders await […] The post Markets Update: Crypto Prices Drift Sideways While Traders Remain Uncertain appeared first on Bitcoin News.

2019-1-17 20:15


Crypto Asset Onlookers, Bitcoin Will Never Do *THIS* to You or Your Business

Recently, a Bitcoin enthusiast who teaches Bitcoin development took to Twitter to announce this, “I really like how Bitcoin never does this to my business.” Well, what happened here is Stripe, an online payment processing company for internet business blocked a “likely fraudulent payment” from Justin Moon’s account, the person who reported this. The company […]

2019-1-17 20:09