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How Bitcoin inflows pushed 2024’s stats to ‘24% higher’ than 2021’s

2min Read

During the week, the total AuM hit $100 billion for the first time in history.

2024 crypto inflows are already 24% higher than 2021 highs

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  • Total inflows in 2024 were 24% higher than 2021’s yearly record.
  • Bitcoin accounted for 97% of the total inflows in 2024.

Inflows into digital asset investment products reached a new high last week, eclipsing the previous week’s figures.

According to the latest report by crypto asset management firm CoinShares, institutional investors poured $2.9 billion into the cryptocurrency funds last week, extending the winning streak to the seventh week.

Weekly crypto asset flows

Source: CoinShares

2024: The record-shattering year

With this, year-to-date (YTD) inflows surged to a whopping $13.2 billion, 24% higher than the total inflows recorded in the whole of 2021.

During the week, the total assets under management (AuM) hit the magical $100 billion mark for the first time in history. However, due to the price correction at the end of the week, it fell slightly to $97 billion.

Note that AuM is considered an important performance gradient of a fund. A higher AuM typically attracts higher investments.

Demand for U.S. spot ETFs continues unabated

As observed in previous weeks, the spike was fueled by significant investments into new spot Bitcoin [BTC] ETFs in the United States.

According to AMBCrypto’s analysis of SoSo Value data, these issuers netted $2.57 billion in inflows last week.

U.S. Bitcoin spot ETF inflows

Source: SoSo Value

To the market’s relief, outflows from Grayscale Bitcoin Trust (GBTC) trailed inflows into other spot ETFs yet again, with BlackRock and Fidelity cornering the major chunk of investments.

As of the 15th of March, the combined AUM of all the U.S. spot bitcoin ETFs was $58 billion, accounting for 4.35% of Bitcoin’s total supply.

Assessing the performance of different products

The largest institutional crypto product Bitcoin saw inflows worth $2.86 billion last week, taking its YTD inflows to a whopping $12.86 billion.

Needless to say, Bitcoin has dominated total inflows into the digital asset market this year, accounting for 97%.

On the other hand, popular smart contracts-linked cryptocurrencies like Ethereum [ETH] and Solana [SOL] experienced outflows last week.

While $14 million was plugged out of Ethereum-linked funds, Solana-based crypto products witnessed a capital exit of $2.7 million.

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Aniket Verma works as a journalist at AMBCrypto. Contrary to most who are primarily interested in merely tracking price movements of cryptos, his focus is on examining the niche intersection between cryptocurrencies and traditional finance. A so-so Bitcoin maximalist, Aniket has a strong disdain for memecoins and the unfounded frenzy they seem to generate every market season. Coming from a strong engineering background, Aniket previously worked as a Content Manager for TV9 Network. Before his stint over there, he was an Associate Multimedia News Producer at Reuters.
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