Digital Asset Investment Funds See $1.1 Billion Inflows as AUM Reaches $59 Billion
In the past week, digital asset investment products experienced a surge in inflows, totaling $1.1 billion. This increase in investment follows a rise in cryptocurrency prices, resulting in significant weekly gains.
Market Cap Hits $1.8 Trillion with Strong Trading Volume
Bitcoin’s price surpassing $48,000 and the positive performance of altcoins have contributed to a wider market cap of $1.8 trillion. Additionally, the daily trading volume has reached $45.44 billion.
Total Net Inflows Reach $2.7 Billion for the Year
The recent inflow of $1.1 billion brings the total net inflows for the year to $2.7 billion. As a result, the Assets Under Management (AUM) have reached their highest point since early 2022, totaling $59 billion.
Bitcoin Dominates Inflows with 98% Share
Unsurprisingly, Bitcoin received the majority share of inflows, accounting for 98% with a total of $1 billion. Analysts predicted this positive movement following the approval of spot ETFs.
Ethereum and Other Altcoins Attract Inflows
Ethereum recorded inflows of $16.5 million, indicating a shift from negative to positive yearly inflows and bringing its AUM to $10 billion. Solana and Cardano also saw inflows of $0.1 million and $6.1 million respectively.
Regional Inflows and Outflows
The United States experienced inflows of $1.1 billion, while Switzerland and Australia saw inflows of $38.9 million and $0.8 million respectively. However, Germany recorded outflows of $10.3 million.
Source: Cryptonews
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