Digital asset investment vehicles are setting record yearly flows after a month of inflows, according to leading crypto asset management firm CoinShares.
In its latest Digital Asset Fund Flows Weekly Report, CoinShares says that crypto exchange-traded products (ETPs) enjoyed nearly a billion dollars in inflows last week alone.
“Digital asset investment products recorded a fourth consecutive week of inflows, totaling US$882m globally. Year-to-date (YTD) inflows now stand at US$6.7bn, approaching the US$7.3bn peak reached in early February this year.
We believe the sharp increase in both prices and inflows is driven by a combination of factors: a global rise in M2 money supply, stagflationary risks in the US, and several US states approving Bitcoin as a strategic reserve asset.”
While Canada and Hong Kong saw $8 million and $4.3 million in outflows, the United States led the world with $840 million in inflows, followed by Germany and Australia at $44.5 million and $10.2 million, respectively.
Bitcoin (BTC), per usual, enjoyed the lion’s share of inflows.
“Bitcoin dominated inflows, attracting US$867m globally last week. It also reached a new milestone, as US-listed ETFs recorded cumulative net inflows of US$62.9bn since their launch in January 2024, surpassing the previous high of US$61.6bn set in early February.”
SUI ETPs enjoyed $11.7 million in inflows while Ethereum (ETH) vehicles saw only $1.5 million.
Follow us on X, Facebook and Telegram
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Scharfsinn
Credit: Source link
