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Bitcoin-backed funds from the U.S. ushered most of $598 million in digital asset investment product inflows last week. 
Crypto-based investment vehicles have recorded their fourth consecutive week of inflows, totaling over $5.7 billion for the year, putting 2024’s assets under management (AUM) at roughly 55% of 2021’s output, a year of record digital asset product inflows and the peak of crypto’s previous bull cycle.&nbsp; 
According to a <a href="https://blog.coinshares.com/volume-171-digital-asset-fund-flows-weekly-report-0bc3a2259018" target="_blank" rel="noreferrer noopener">CoinShares</a> report, the U.S. continued to lead regional inflows with spot Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>)&nbsp; ETFs drawing huge demand, but exits from Grayscale dampened overall numbers. This area saw $610 million flow into digital assets funds while GBTC shed $436 million in another week of outflows.&nbsp; 
Brazil, Switzerland, and Australia trailed the U.S. for flows but accounted for most non-American influx into these digital assets products. Ethereum spearheaded altcoin fund inflows with $17 million, while blockchain equities indicated skepticism, with investors pulling out $81 million.&nbsp; 
 You might also like: <a href="https://crypto.news/bitcoin-53000-trading-volume/"> Bitcoin reaches $53k as daily trading volume soared over 50% </a> 
<h2 class="wp-block-heading" id="blackrock-fidelity-bitcoin-etfs-ahead-of-competitors">BlackRock, Fidelity Bitcoin ETFs ahead of competitors</h2> 
CoinShares highlighted the introduction of spot Bitcoin ETFs as the constant presence in weekly inflows since its Jan. 11 debut. Two issuers, <a href="https://crypto.news/blackrock-spotlights-bitcoin-etf-with-progress-driven-ad-campaign/" target="_blank" rel="noreferrer noopener">BlackRock</a> and Fidelity, remain heads and shoulders above competitors in this market, including incumbent Grayscale. 
While the two do not boast Grayscale’s AUM yet, BlackRock and <a href="https://crypto.news/blackrock-and-fidelity-made-best-debut-on-etf-market-in-30-years/" target="_blank" rel="noreferrer noopener">Fidelity</a> have garnered over $10 billion combined in less than three months. Funds from these two issuers were some of the fastest ETFs to hit $1 billion in AUM after launch, signaling interest from Wall Street investors.&nbsp; 
Analysts and experts predict this demand may drive Bitcoin toward a parabolic price run if sustained. Fundstrat co-founder Thomas J. Lee said BTC could <a href="https://crypto.news/bitcoin-fundstrat-150k-2024/" target="_blank" rel="noreferrer noopener">reach</a> $150,000 by December this year, and <a href="https://crypto.news/bitcoin-could-reach-63k-in-march-2024-matrixport-says/" target="_blank" rel="noreferrer noopener">Matrixport</a> sees a $63,000 Bitcoin by March. This would place BTC less than 10% away from its previous all-time high. 
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 BTC chart | Source: TradingView
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 Read more: <a href="https://crypto.news/microstrategy-bitcoin-for-155m/"> MicroStrategy adds 3k more Bitcoin for $155m </a>

Bitcoin leads digital asset funds in 4th straight week of inflows

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