LATEST: Bitcoin Dominates as Crypto Investment Products Garner $708 Million Weekly Inflows

Crypto funds at major asset managers like BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares experienced a global return to inflows, totaling $708 million last week, according to CoinShares’ recent report. These inflows mark the second-largest since the launch of bitcoin exchange-traded funds (ETFs) in the United States on Jan. 11 and the second-largest since the late 2021 bull market peak. The funds rebounded from two weeks of consecutive outflows, bringing year-to-date net inflows to $1.6 billion and total assets under management to $53 billion. Notably, Grayscale’s higher-fee converted spot bitcoin ETF (GBTC) showed a significant reduction in outflow momentum, with $927 million outflows compared to $2.2 billion in the prior week. Bitcoin dominated investments with $703 million in inflows, comprising 99% of all flows, while short bitcoin funds experienced minor outflows of $5.3 million. The U.S. continued to lead in inflows, with $721 million, while altcoin-based funds saw Solana leading with $13 million in inflows, while Ethereum and Avalanche faced outflows of $6.4 million and $1.3 million, respectively.

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