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Cryptocurrencies: 12,866
Markets: 940
Marketcap: $ 2.05 T(0.79%)
24h Vol: $ 87.19 B
BTC Dominance: 48.87%

Crypto Products Attract $1.1 Billion Inflows amid Price Surge

Digital asset investment products saw $1.1 billion in inflows last week, coinciding with an increase in cryptocurrency prices.

Key Takeaways

  • Digital asset investment products recorded $1.1 billion in inflows last week as cryptocurrency prices surged.
  • The overall cryptocurrency market capitalization reached $1.8 trillion, with a daily trading volume of $45.44 billion.
  • Bitcoin’s price surpassed $48,000, contributing to the market’s uptrend.
  • The inflows brought total net inflows for the year to $2.7 billion, pushing assets under management to $59 billion – the highest since early 2022.
  • The potential approval of a Bitcoin ETF by the SEC has boosted assets under management from around $52 billion in Q4 2023.

Market Stats

  • Bitcoin investment funds accounted for 98% of the weekly inflows, totaling $1 billion invested.
  • There were $0.4 million in outflows from Short Bitcoin positions as sentiment turned bullish.
  • Bitcoin’s price increased 17.03% over the past week and 3% in the past 24 hours, reaching $49,759.
  • The approval of new spot-based Bitcoin ETFs in the U.S. has spurred new momentum, bringing in $2.8 billion since their launch on January 11.

Altcoins

  • Ethereum attracted $16.5 million in inflows, while Solana and Cardano saw inflows of $0.1 million and $6.1 million respectively.
  • Ethereum’s yearly inflows have turned positive, with assets under management reaching $10 billion.
  • Solana experienced a 13% price increase over the past week, trading at $108.

Regional Flows

  • The United States led with $1.1 billion in inflows.
  • Switzerland and Australia saw inflows of $38.9 million and $0.8 million respectively.
  • Germany experienced outflows of $10.3 million.

Source

Inflows of US$1.1bn into digital asset ETPs, momentum of inflows into new issuers not slowinghttps://t.co/IERahbmYhO

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