2024

Bitcoin ETF

Bitcoin

Shiba Inu

Kicking off 2024 on a high note, Coinshares’ Digital Asset Fund Flows Weekly Report reveals a robust start with inflows totaling $151 million. Meanwhile, among other assets, <a href="https://coingape.com/glossary/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> takes center stage, witnessing the lion’s share at $113 million, contributing to the cumulative $2.3 billion influx since the Grayscale vs SEC lawsuit.
Notably, as digital assets continue to thrive, let’s delve into the key highlights shaping the landscape of cryptocurrency investments.
<h2 id="bitcoin-leads-the-charge-with-113-million-inflows">Bitcoin Leads the Charge with $113 Million Inflows</h2>
In a promising start to 2024, Coinshares’ recent report unveils a substantial surge in digital asset investments, registering an impressive $151 million in inflows during the first week of the year. Bitcoin has emerged as the frontrunner, attracting $113 million and commanding 3.2% of <a href="https://coingape.com/glossary/assets-under-management/" target="_blank" rel="noopener noreferrer nofollow">Assets Under Management (AuM)</a> over the past nine weeks.
However, despite anticipations surrounding a potential “buy the rumor, sell the news” scenario with the yet-to-be-launched <a href="https://coingape.com/education/bitcoin-spot-etf/" target="_blank" rel="noopener noreferrer nofollow">Spot Bitcoin ETF</a> in the US this week, short-Bitcoin experiences outflows totaling $1 million. Notably, this move contradicts expectations, as the last nine weeks witnessed a noteworthy $7 million exiting short-Bitcoin Exchange Traded Products (ETPs).
On the other hand, Ethereum sees a positive sentiment shift, accumulating $29 million in inflows for the week and $215 million over the past nine weeks, the <a rel="noopener noreferrer nofollow" href="https://blog.coinshares.com/volume-164-digital-asset-fund-flows-weekly-report-1df57aabb9c5" target="_blank">report</a> showed. In contrast, Solana faces challenges, with outflows totaling $5.3 million at the beginning of the year.
Also Read: <a href="https://coingape.com/nvidia-to-launch-china-centric-ai-chips-amid-us-export-restrictions/" target="_blank" rel="noopener noreferrer nofollow">Nvidia To Launch China-centric AI Chips Amid US Export Restrictions</a>
<h2 id="a-closer-look-into-the-report">A Closer Look Into The Report</h2>
Diversification is evident in the <a href="https://coingape.com/glossary/altcoins/" target="_blank" rel="noopener noreferrer nofollow">altcoin</a> space, with notable inflows for Cardano of around $3.7 million, and Avalanche of about $2 million. In addition, Litecoin witnessed an inflow of $1.4 million, according to the report. Notably, the latest Coinshares report suggests that the overall digital asset landscape remains dynamic and resilient.
In addition, <a href="https://coingape.com/glossary/blockchain/" target="_blank" rel="noopener noreferrer nofollow">blockchain</a> equities witness a promising start to the year, recording $24 million in inflows over the last week. Beyond digital assets, this influx underscores the growing investor interest and confidence in blockchain-related stocks, further contributing to the evolving narrative of the financial markets.
As Bitcoin inflow remains strong, the broader digital asset ecosystem continues to captivate investors worldwide. It’s worth noting that the report has gained notable traction, especially when the market is anticipating a Spot Bitcoin Approval this week.
Also Read: <a href="https://coingape.com/shiba-inu-whale-accumulates-546-bln-shib-from-binance-bull-run-ahead/" target="_blank" rel="noopener noreferrer nofollow">Shiba Inu Whale Accumulates 546 Bln SHIB From Binance, Bull Run Ahead?</a>
The post <a href="https://coingape.com/bitcoin-etf-anticipation-contributes-to-151-mln-inflows-digital-assets/" rel="noopener noreferrer nofollow">Bitcoin ETF Anticipation Contributes To $151 Mln Inflows In Digital Assets</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Bitcoin ETF Anticipation Contributes To $151 Mln Inflows In Digital Assets

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