Recent data from investment firm CoinShares indicates a significant influx of funds into cryptocurrency investment products.
Overview of Inflows
Last week, cryptocurrency investment products brought in $2 billion in new inflows, pushing total assets under management (AUM) from $151 billion to $156 billion, representing a 3.3% increase.
Inflows Slow Despite Bitcoin Gains
While the positive trend continues for the past three weeks, the most recent week saw a 41% decrease in inflows compared to the previous week, which was the third-largest inflow on record at $3.4 billion. Bitcoin experienced $1.8 billion of inflows, down 43% from the prior week.
Inflows Concentrated in BlackRock Products
The inflows were largely concentrated in BlackRock’s iShares products, which saw inflows of approximately $2.7 billion last week. However, other issuers like ARK Invest and Fidelity Investments experienced outflows of $458 million and $201 million, respectively.
The current state of the cryptocurrency investment market reflects a mix of inflows and outflows, capturing the attention of analysts and investors alike.
