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Digital assets are surging as investors pour in a massive $3.3 billion last week alone pushing total inflows for the past six weeks to $10.5 billion. Year-to-date inflows have now hit a record $10.8 billion with total assets under management briefly reaching a new high of $187.5 billion. Rising concerns about the US economy following Moody’s downgrade and higher treasury yields are driving investors toward crypto as a safe haven.
The US led the charge with $3.2 billion in inflows followed by Germany Hong Kong and Australia. Bitcoin was the clear winner pulling in $2.9 billion and now accounts for a quarter of total 2024 inflows. Ethereum followed with $326 million marking its fifth straight week of gains and strongest performance in 15 weeks.
Short-Bitcoin products also gained traction with $12.7 million in inflows while XRP saw a setback with $37.2 million in outflows ending an 80-week positive streak. Despite some outflows crypto sentiment remains strong as digital assets attract more global interest.
