Flow

United

Bitcoin ETF

Billion

Source: Adobe / Luisa 
Digital asset investment products recorded $176 million in inflows last week extending the positive run to 10 consecutive weeks hitting huge numbers not recorded in years. 
A <a href="https://a.storyblok.com/f/155294/x/babbfcada6/coinshares-digital-asset-fund-flows-04-12-23.pdf">CoinShares Digital Asset Weekly Fund Flow report</a> shows strong bullish sentiment from investors across multiple countries signaling another uphill run as the year winds up. 
The $176 million total fund flow last week has pushed the value in the last 10 weeks above $1.76 billion, a figure not recorded since Oct 2021 after future-based Exchange Traded Funds (ETFs) were rolled out in the United States. 
2021 was also the year the market soared to record highs with Bitcoin (<a href="https://cryptonews.com/coins/bitcoin/">BTC</a>) tapping an all-time higher above $64,000 and multiple altcoins making a rally on the back of the <a href="https://cryptonews.com/news/institutional-investors-flock-to-bitcoin-pushing-inflows-past-1-billion-in-2023.htm">renewed institutional investment</a> in the market. 
This year has seen a significant boost changing the tide from last year’s plunging figures caused largely by macroeconomic factors and internal market pressures. Top assets like BTC have posted a 100% growth this year as institutional investors rally around digital assets. 
The ten weeks of consecutive inflows translate to 4% of the Assets Under Management (AUM) showing a rise in investment after months of struggles in a bear market. 
AUM has now surged 107% this year and stands at $46.2 billion following an increase in decentralized finance (DeFi) activity but remains far off the all-time of $86.6 billion posted in 2021. 
<h2 id="bitcoin-records-massive-gains">Bitcoin records massive gains</h2> 
 Bitcoin led the gains as expected after investors sunk in $133 million further extending its good to another week despite short Bitcoin recording three weeks of outflows with $3.6 million in the last seven days. 
The <a href="https://cryptonews.com/news/analysts-set-new-potential-window-for-spot-bitcoin-etf-approval.htm">anticipation for a spot Bitcoin ETF</a> in the United States continues to drive growth around the market with more firms predicting an approval hangs in the horizon. 
At press time, BTC trades for $41,570, a 5% increase in the last 24 hours and a 12% boost in the last seven days as bulls continue to apply pressure towards the end of the year. 
<h2 id="ether-lights-altcoin-path">Ether lights altcoin path</h2> 
 Ethereum (<a href="https://cryptonews.com/coins/ethereum/">ETH</a>) recorded inflows of $31 million increasing its positive inflows to 5 weeks totaling $134 million after a slow start to the year. Multi-asset products Ripple (<a href="https://cryptonews.com/coins/ripple/">XRP</a>) saw inflows of $2.3 million and $0.5 million respectively. 
Solana (<a href="https://cryptonews.com/coins/sol-solana/">SOL</a>) continued its inflow in consecutive weeks although way behind Ethereum in terms of volume. The institutional investor favorite recorded inflows of $4.3 million and has recorded a year-to-date (YTD) gain of $143 million. 
On the geographical front, Canada recorded the highest inflow of $79 million while Germany and the United States saw $56.9 million and $53.5 million. On the other side of the divide, Switzerland, Australia, and Sweden recorded outflows.

Digital Asset Funds Record $1.76 Billion Inflows in 10 Weeks, Highest Since 2021: Report

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