Record Inflows of $346 Million into Digital Asset Funds as Assets Under Management Exceed $45.3 Billion

Cryptocurrency Products See Massive Inflows

Last week, cryptocurrency products experienced a significant influx of $346 million, marking the highest figure in the past nine weeks. This surge in inflows is a result of growing bullish sentiment in the market, driven by institutional investors who have been acquiring exposure to cryptocurrency products for nine consecutive weeks.

Bitcoin and Ethereum Lead the Way

Bitcoin, the market leader, received $312 million in inflows last week, bringing its yearly total to $1.5 billion. On the other hand, short Bitcoin saw outflows for the third consecutive week with $0.9 million. Meanwhile, Ethereum recorded $34.8 million in inflows, extending its positive run for four consecutive weeks. Other altcoins like Solana, Polkadot, and Chainlink also saw slight gains.

Geographical Distribution of Inflows

The majority of the total inflows came from Canada and Germany, accounting for 87% of the funds. Canada recorded $199 million while Germany saw $101.5 million in inflows. The United States and Switzerland followed with $30.2 million and $14.6 million, respectively.

ETF Hype Boosts Market Sentiment

The recent bull run in virtual assets has been fueled by the anticipation of a spot Bitcoin ETF approval. As more firms apply for ETFs and institutional sentiment shifts towards cryptocurrencies, experts predict that approval is imminent despite previous rejections by the SEC.

Hot Take: Crypto Market Continues to Gain Momentum

The crypto market is showing strong momentum as digital asset funds record massive inflows and assets under management surge past $45.3 billion. This surge in inflows is driven by growing bullish sentiment among institutional investors who continue to acquire exposure to cryptocurrency products. Bitcoin and Ethereum lead the way with significant inflows, while altcoins like Solana, Polkadot, and Chainlink also see gains. The geographical distribution of inflows is dominated by Canada and Germany. The market’s positive run is fueled by the anticipation of a spot Bitcoin ETF approval, which experts believe is imminent. Overall, the crypto market remains on an upward trajectory.