0
0
Cryptocurrencies: 12,866
Markets: 940
Marketcap: $ 2.05 T(0.79%)
24h Vol: $ 87.19 B
BTC Dominance: 48.87%

Digital Asset Investment Funds Attract $151 Million Inflow

Digital assets investment funds saw an inflow of $151 million in the first week of 2024, driven by institutional investors.

SEC ETF Approval Drives Interest

Anticipation for the SEC’s approval of a spot Bitcoin ETF is contributing to increased investment. The $151 million inflow brings total inflows since the Grayscale SEC victory to $2.3 billion. The industry remains optimistic about ETF approvals, influencing stakeholder activities and bullish stances.

Bitcoin Price Forecast Spurs Interest

A report predicted that Bitcoin’s price could reach $50,000 by the end of January, spurring investor interest, as Bitcoin’s price exceeded $45,000.

Ethereum Gains on Staking Feature

Ethereum (ETH) recorded $30 million inflows as its price surpassed $2,250, with its staking feature attracting wealth managers.

Solana Outflows Despite Gains

Solana (SOL) faced $5 million in outflows and a 10.35% price decrease over the same period despite previous gains and overtaking Binance Coin (BNB) in market value.

Other Token Inflows

Cardano (ADA) attracted $4 million in inflows while Ripple (XRP) and Avalanche (AVAX) received $1 million and $2 million, despite market losses.

Multi-Asset Products See Growth

Multi-asset products experienced gains of $5 million and now have $3.2 billion in AUM, with Bitcoin’s AUM at $37.8 billion. The total market AUM remains above $52 billion with growing decentralized finance (DeFi) participation.

Sources: CoinShares Digital Asset Fund Flow report, James Butterfill tweet.

Advertisementspot_img

Latest News