During the week, $ 1.1 billion was invested in crypto funds
According to the results of last week, about $ 1.1 billion flowed into cryptocurrency investment products
According to CoinShares, the total volume for 2024 so far is $2.8 billion. Analysts noted that the dynamics of the inflow of funds into new spot bitcoin ETFs is not slowing down.
Meanwhile, against the background of recent price increases, the total amount of assets under management (AuM) reached $59 billion. This is the highest level since the beginning of 2022.
Regionally, the focus remained on BTC spot ETFs launched in the United States on January 10. Since then, the net inflow into new funds based on the first cryptocurrency has amounted to $2.8 billion.
The outflow from existing ETPs has slowed down comparatively. However, the negative dynamics may resume due to the potential sale of assets by Genesis. The crypto exchange is going to liquidate the $1.6 billion cryptocurrency in order to pay off creditors.
The outflow from crypto funds in Canada and Germany slowed down to $17 and $10 million, respectively.
Almost the entire influx — 98% — came from bitcoin-based products. Negative dynamics were observed only in short positions for the first cryptocurrency, the outflow of which barely exceeded $ 400 thousand.
The rise in BTC prices has contributed to an increase in sentiment towards Ethereum (ETH) and Cardano (ADA). Products focused on these assets received $16 million and $6 million, respectively. Inflows were also observed in crypto funds by:
- Avalanche (AVAX) — $500 thousand;
- Polygon (MATIC) — $400 thousand;
- Tron (TRX) — $400 thousand.
