Topic: [2024-13-02] Report: Spot Bitcoin ETFs Lead Crypto Investment Surge With Record (Read 42 times)

Report: Spot Bitcoin ETFs Lead Crypto Investment Surge With Record Inflows

In a recent turn of events, spot bitcoin exchange-traded funds (ETFs) emerged as the market leaders in the realm of cryptocurrency investment products last week. According to a recent report by Coinshares, these funds attracted $1.1 billion in inflows, marking the highest assets under management (AUM) since the early days of 2022.

Coinshares Report Shows Spot Bitcoin ETFs Reign Supreme With $1.1 Billion Inflows

The digital asset investment landscape has witnessed a significant uptick, with spot bitcoin ETFs in the United States capturing the spotlight. The report, authored by Coinshares’ analyst James Butterfill, shows these newly issued investment products not only dominated last week’s inflows but also contributed to a year-to-date influx totaling $2.7 billion.

Report: Spot Bitcoin ETFs Lead Crypto Investment Surge With Record Inflows

The report explains that regionally, the focus has sharpened on the U.S., where spot-based bitcoin ETFs have seen a net increase of $1.1 billion in inflows since their launch on January 11th, cumulatively reaching $2.8 billion. During the previous week, seven-day statistics revealed that IBIT and FBTC attracted the most significant inflows.

Research from Bitcoin.com News highlights that IBIT and FBTC possess the largest BTC reserves among the group, controlling over three-quarters of the total more than 208,000 BTC held. Despite the concentration of inflows into bitcoin (BTC), other cryptocurrencies like ethereum (ETH) and cardano (ADA) have also benefited from the positive market sentiment. Ethereum and cardano witnessed inflows of $16 million and $6 million, respectively.

Avalanche, which raked in $0.5 million, experienced minor inflows, along with Polygon and Tron, which each saw $0.4 million. The report further details a cooling off of outflows from other regions, with minor outflows noted in Canada ($17M) and Germany ($10M), contrasting with substantial inflows in Switzerland ($35M). This geographical distribution of inflows and outflows presents a nuanced view of the global crypto investment landscape.

Source: https://news.bitcoin.com/report-spot-bitcoin-etfs-lead-crypto-investment-surge-with-record-inflows/