Crypto-linked funding merchandise skilled the second-largest influx of 2024 final week, amounting to $708 million, practically 99% of which got here from Bitcoin.
The U.S. market recorded $721 million in inflows, with the recent ETFs alone gathering $1.7 billion. In accordance with CoinShares analysis, spot Bitcoin ETFs have constantly attracted a mean of $1.9 billion in capital over the previous month, culminating in a complete of $7.7 billion since their approval.
Bitcoin ETFs have maintained a mean influx of $1.9 billion during the last 4 weeks, reaching a cumulative $7.7 billion since they had been first launched within the second week of January. Regardless of this surge, there was a $6 billion withdrawal from established funds, together with Grayscale and ProShares.
Nonetheless, current knowledge signifies a noticeable slowdown in these outflows.
Bitcoin dominated the influx charts with $703 million, representing 99% of the entire funding move. In distinction, merchandise betting towards Bitcoin skilled a slight withdrawal of $5.3 million, aligning with a constructive shift in its worth tendencies.
Amongst different cryptocurrencies, Solana stood out with $13 million in inflows, surpassing Ethereum and Avalanche, which confronted withdrawals of $6.4 million and $1.3 million throughout the identical timeframe.