Litecoin

Bitcoin

when

James

<h2 id="key-points">Key Points</h2>
<li>Institutional Bitcoin investment products have seen inflows totaling $598 million over the past week.</li>
<li>Bitcoin ETFs have experienced their fourth consecutive week of inflows, with year-to-date inflows exceeding $5.7 billion.</li>
CoinShares’ recent report indicates that $598 million flowed into crypto investment products from institutional Bitcoin investment products in the past week.
This marks the fourth consecutive week of inflows for crypto exchange-traded products (ETPs).
<h2 id="increasing-exposure-to-bitcoin">Increasing Exposure to Bitcoin</h2>
The “Digital Asset Fund Flows Weekly” report by CoinShares, published on Feb. 26, reveals that year-to-date inflows have surpassed $5.7 billion.
Institutional investors are increasingly using spot Bitcoin ETFs to gain exposure to Bitcoin.
James Butterfill, Head of Research at CoinShares, noted that total assets under management (AuM) reached a peak of $68.3 billion earlier in the week, the highest since December 2021.
However, this is still significantly lower than the all-time high of $87 billion seen in November 2021.
The surge in inflows coincides with a market recovery driven by spot Bitcoin ETFs.
Between Feb. 19 and Feb. 23, institutions deposited nearly $598 million into crypto products offered by BlackRock, ARK Invest, Grayscale, Bitwise, ProShares, Fidelity, and 21Shares.
However, outflows briefly slowed at the end of last week.
<a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin (BTC)</a> funds saw the largest inflows of any cryptocurrency, with approximately $570 million, accounting for 95% of the total.
<a href="https://crypto.ro/en/cryptocurrencies/ethereum/" rel="noopener noreferrer nofollow">Ether (ETH)</a> was second, with inflows of $16.8 million.
Litecoin (LTC) and Ripple’s XRP ETPs saw inflows of $1 million and $1.1 million, respectively.
Solana (SOL) was the exception, with $3 million in outflows due to recent outages, which may have affected sentiment around the layer 1 token, according to CoinShares.
The United States saw weekly inflows of $609 million, with high-cost spot issuers seeing substantial inflows, particularly into new spot Bitcoin ETF issuers.
Despite $436 million worth of outflows from Grayscale, inflows into U.S.-based crypto products totalled $609.5 million.
Brazil and Switzerland recorded minor inflows of $8.2 million and $2.1 million, respectively.
The Canadian market, on the other hand, saw the largest outflows from digital asset investment products, losing $17.8 million, followed by Sweden with $8 million in outflows.
The increase in inflows into Bitcoin products corresponds with the recent price rise above $53,000, followed by a slight correction to $50,500.
At the time of publishing, BTC had surpassed this level to set a new year-to-date high at $53,650.
The last time Bitcoin traded above $53,600 was over two years ago, on Dec. 3, 2021, when it fell from a high of $57,872 before beginning a downtrend that took the price to $16,600 in November 2022.

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