Ethereum

2024

United

Bitcoin

Digital asset investment funds have seen an increase in inflows across seven days following a market rebound after days of sell-offs. 
A new <a href="https://blog.coinshares.com/volume-168-digital-asset-fund-flows-weekly-report-16427d7d3235">CoinShares Weekly Crypto Asset Flows Report</a> shows massive inflows into Bitcoin (BTC) and other cryptocurrencies, raising yearly entries to $1.6 billion. 
US$708m inflows into Digital Assets last week, outflows from Grayscale abating<a href="https://t.co/mk4Kmb8TXb">https://t.co/mk4Kmb8TXb</a> 
— James Butterfill (@jbutterfill) <a href="https://twitter.com/jbutterfill/status/1754475119450128411?ref_src=twsrc%5Etfw">February 5, 2024</a> 
Digital asset funds saw a total of $708 million in inflows last week boosting the total in 2024 to $1.6 billion and Assets Under Management (AUM) to $53 billion slightly above last year’s figure. 
Since the <a href="https://cryptonews.com/exclusives/us-spot-bitcoin-etf-approved-uk-unlikely-to-follow-suit.htm">approval of spot Bitcoin ETFs</a> by the United States Securities and Exchange Commission (SEC) the market has seen an uptick in trading figures around the crypto market leader. However, wide-ranging outflows were recorded in the weeks after the approval, due to a slight market correction. 
Several industry analysts pointed to the reactions after the Bitcoin ETF approval as significant <a href="https://cryptonews.com/news/institutional-investors-flock-to-bitcoin-pushing-inflows-past-1-billion-in-2023.htm">huge inflows were recorded</a> in Q4 2023. 
<h2 id="bitcoin-dominates-the-digital-assets-market">Bitcoin Dominates the Digital Assets Market</h2> 
 Bitcoin continues its dominance of institutional funds flowing into the cryptocurrency market, with 99% of total inflows last week. 
The market leader recorded $703 million in inflows while shorts on Bitcoin posted $5.3 million in outflows. Bitcoin’s massive upturn this week comes after the asset recovered lost gains in the last seven days. 
At press time, BTC <a href="https://cryptonews.com/price-tracker/">exchanges hands at $42,860</a>, up 1.90% in the last seven days, posting a 21% increase in trading volumes at $16.8 billion. 
Monthly flows for the asset are now at $88.6 million while yearly inflows stand at $1.5 billion raising the AUM to $38.1 billion. 
Newly issued Bitcoin ETFs have contributed to this number as they have recorded $1.9 billion taking the yearly total to $7.7 billion although incumbent outflows total $6 billion. Per the CoinShares report: 
“These new ETFs have now averaged $1.9 billion inflows over the last four weeks, bringing total inflows since launch (11th January) to $7.7 billion. This has been offset by outflows of incumbent issuers buy data highlights a significant reduction in the momentum of these outflows in recent weeks.”&nbsp; 
<h2 id="increased-activity-across-the-crypto-market">Increased Activity Across the Crypto Market</h2> 
 Ethereum (<a href="https://cryptonews.com/coins/ethereum/">ETH</a>) recorded $6 million outflows last week while Solana (<a href="https://cryptonews.com/coins/sol-solana/">SOL</a>) and Cardano (<a href="https://cryptonews.com/coins/cardano/">ADA</a>) saw $13.4 million and $0.6 million inflows respectively. 
This week’s losses have dragged Ethereum products into the red zone, but the asset still boasts $9.8 billion AUM. 
Solana remains under water after a 4% decline in the last seven days while Cardano is up by $0.5% in the same period. 
Multi asset recorded gains of $2.4 million taking yearly gains to $30 million.The United States saw the majority of inflows with $721 million while Switzerland and Germany posted gains of $20.9 million and $3.5 million respectively. 
Canada recorded outflows of $31.3 million in outflows bringing yearly exits to $241 million.

Digital Asset Investment Fund Record $708 Million Inflows as AUM Hit $53 Billion

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