Crypto Investment Inflows Reach $767 Million in 6 Weeks
As the cryptocurrency market recovers, institutional investors are growing their bets on crypto investment products, with inflows over the past six weeks now reaching $767 million. This figure is the largest seen since the 2021 bull market and tops last year’s figures.
Bitcoin Dominates Institutional Inflows
Last week’s inflows totaled $261 million, with $228.9 million going to products offering exposure to Bitcoin, bringing inflows for BTC-focused products to $842 million. Ethereum’s Ether saw $17.5 million in inflows over the past week but over $107 million of outflows for the year so far.
Institutional Interest in Cryptocurrency Market
Institutional bets on the cryptocurrency market have increased after BlackRock took a pioneering leap with a spot Bitcoin exchange-traded fund application. This has led to major financial powerhouses that collectively manage an astounding $27 trillion in assets to make inroads into the world of Bitcoin and cryptocurrency.
The Future of Cryptocurrency Investments
The $27 trillion figure represents a total of assets under management across these institutions, and only a small fraction is anticipated to be channeled into cryptocurrency investments. U.S. investors are beginning to participate, leading to the largest inflows of any region totaling $157 million.
Hot Take: US Leads in Crypto Asset Management
According to CCData’s latest Digital Asset Management Review report, the US has remained the leader in assets under management (AUM) by domicile, reaching $24.5 billion and a 77.3% share of the total market. AUM in Canada also grew to $2.03 billion due to the strong performance of various products.
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