Cryptocurrency Investment Funds See Record $2.45 Billion Inflows, AUM Taps $67 Billion
Cryptocurrency investment funds recorded $2.45 billion in inflows in the last seven days as Assets Under Management (AUM) surged.
A new CoinShares Digital Asset Fund Flow Report shows huge institutional flows into the cryptocurrency market last week.
Largest weekly inflows into Bitcoin ETFs on record at US$2.45bnhttps://t.co/J0urqRyaWX
— James Butterfill (@jbutterfill) February 19, 2024
This year has marked a significant increase in institutional investor market activities following the approval of spot Bitcoin ETFs by the United States Securities and Exchange Commission (SEC).
Last week, cryptocurrency products saw $2.4 billion inflows marking a record weekly figure. This recent surge brings the year-to-date (YTD) inflows to $5.2 billion.
A notable weekly impact on the market is the uptick in cryptocurrency total value locked (TVL) and assets under management. Cryptocurrency AUM stands at $67 billion, its highest position since December 2021.
The growth in AUM is largely due to an increase in price and a huge institutional inflow this year. Market capitalization is $1.97 trillion at press time with a $67 billion daily volume.
According to the report, blockchain equities recorded outflows of $167 million as investors took profits.
As expected, Bitcoin dominated inflows in the last seven days with its institutional products recording 99% of the entire figure.
Bitcoin saw inflows of $2.42 billion last week as spot ETF records surging inflows. BTC products have seen $3.6 billion in this month and an excess of $5 billion this year.
After the approval of ETFs on Jan 10, investors continue to increase their exposure to the largest cryptocurrency with surging bullish momentum.
Bitcoin trades over $52,000 pushing its AUM to $49 billion
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