Digital Asset Funds Record $1.76 Billion Inflows in 10 Weeks, Highest Since 2021: Report
Digital asset investment products recorded $176 million in inflows last week extending the positive run to 10 consecutive weeks hitting huge numbers not recorded in years.
A CoinShares Digital Asset Weekly Fund Flow report shows strong bullish sentiment from investors across multiple countries signaling another uphill run as the year winds up.
The $176 million total fund flow last week has pushed the value in the last 10 weeks above $1.76 billion, a figure not recorded since Oct 2021 after future-based Exchange Traded Funds (ETFs) were rolled out in the United States.
2021 was also the year the market soared to record highs with Bitcoin (BTC) tapping an all-time higher above $64,000 and multiple altcoins making a rally on the back of the renewed institutional investment in the market.
This year has seen a significant boost changing the tide from last year’s plunging figures caused largely by macroeconomic factors and internal market pressures. Top assets like BTC have posted a 100% growth this year as institutional investors rally around digital assets.
The ten weeks of consecutive inflows translate to 4% of the Assets Under Management (AUM) showing a rise in investment after months of struggles in a bear market.
AUM has now surged 107% this year and stands at $46.2 billion following an increase in decentralized finance (DeFi) activity but remains far off the all-time of $86.6 billion posted in 2021.
Bitcoin led the gains as expected after investors sunk in $133 million further extending its good to another week despite short Bitcoin recording three weeks of outflows with $3.6 million in the last seven days.
The anticipation for a spot Bitcoin ETF in the United States continues to drive growth around the market with more firms
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