Flow

Cardano

Solana

Billion

James

Digital asset investment products recorded $1.1 billion in inflows in the last seven days following a price uptick in the market. 
A new CoinShares <a href="https://blog.coinshares.com/volume-169-digital-asset-fund-flows-weekly-report-d8911da6dbe0">Digital Asset Funds Flow Weekly Report</a> shows a positive swing in cryptocurrency products for another week as crypto prices record massive weekly gains. 
Inflows of US$1.1bn into digital asset ETPs, momentum of inflows into new issuers not slowing<a href="https://t.co/IERahbmYhO">https://t.co/IERahbmYhO</a> 
— James Butterfill (@jbutterfill) <a href="https://twitter.com/jbutterfill/status/1757003501597519974?ref_src=twsrc%5Etfw">February 12, 2024</a> 
Market gains have seen the wider market cap hit $1.8 trillion with a daily trading volume of $45.44 billion following Bitcoin (<a href="https://cryptonews.com/coins/bitcoin/">BTC</a>) moving past $48,000 and altcoins posting good numbers. 
A weekly inflow of $1.1 billion has brought total net inflows to $2.7 billion this year pushing Assets Under Management to $59 billion, its highest point since the early months of 2022. 
The bull run of 2021 spurred assets to all-time highs, with BTC trading above $64,000 and high institutional interest in the market. The bull cycle waned following the <a href="https://cryptonews.com/news/do-kwon-fights-sec-extradition-request-over-terra-luna-stablecoin-collapse.htm">collapse of Terra’s stablecoin</a> and FTX which led to significant market setbacks. 
As a result, cryptocurrencies saw massive outflows, marking a declined AUM and reduced decentralized finance (<a href="https://cryptonews.com/news/defi-news/">DeFi</a>) numbers. 
AUM hovered around the $52 billion mark in Q4 2023 and has surged steadily as anticipation for a spot Bitcoin ETF approval by the United States Securities and Exchange Commission (SEC) grew. 
<h2 id="bitcoin-takes-98-of-digital-asset-inflows">Bitcoin Takes 98% of Digital Asset Inflows</h2> 
 As expected, Bitcoin got the majority of inflows with other digital assets notching inflows on the back of the market leader’s price uptick. 
BTC investment funds account for 98% of inflows with $1 billion, as analysts predicted positive movements after a <a href="https://cryptonews.com/exclusives/us-spot-bitcoin-etf-approved-uk-unlikely-to-follow-suit.htm">spot ETF approval</a>. 
Short Bitcoin saw $0.4 million in outflows in the last seven days with bulls increasing their positions on the asset. BTC monthly inflows now stand at $1.17 billion while yearly inflows are up $2.5 billion. 
In the last seven days, the Bitcoin price rose 17.03% and 3% in the past 24 hours to trade at $49,759. The inflows into newly approved ETFs have spurred a new market drive based on their competitive costs and other factors. 
“Regionally, the focus remained on the newly issued spot-based Bitcoin ETFs in the US, which saw a net US$1.1bn inflows last week, bringing inflows since the January 11th launch to US$2.8bn. The outflows from incumbents have slowed significantly, but the potential sale of the Genesis holdings of US$1.6bn could prompt further outflows in the coming months.” 
Ethereum (<a href="https://cryptonews.com/coins/ethereum/">ETH</a>) recorded $16.5 million in inflows while Solana (<a href="https://cryptonews.com/coins/sol-solana/">SOL</a>) and Cardano (<a href="https://cryptonews.com/coins/cardano/">ADA</a>) saw inflows of $0.1 million and $6.1 million respectively. 
These numbers have seen Ethereum’s yearly inflows leave the red zone with its AUM at $10 billion. Solana, which was dubbed an institutional investor favorite digital asset, notched reduced figures in the past week.&nbsp;SOL has recorded a <a href="https://cryptonews.com/price-tracker/">13% price growth</a> in the last seven days and trades at $108 at press time. 
While the United States recorded $1.1 billion inflows, Switzerland and Australia posted $38.9 million and $0.8 million respectively while Germany saw outflows of $10.3 million.

Digital Asset Investment Funds Record $1.1 Billion Inflows as AUM Taps $59 Billion

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