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Crypto-focused investment products have experienced significant inflows totaling $1.1 billion, impressively reaching $2.7 billion since the start of the year. This increase in investments has brought the total assets under management (AuM) to their highest level since the beginning of 2022, reaching $59 billion.
Regional Focus: US Bitcoin ETFs Take the Lead
Spotlights continue to shine on the newly issued spot-based Bitcoin ETFs in the United States, which witnessed a significant net inflow of $1.1 billion just last week. These ETFs have attracted a total of $2.8 billion in inflows since their launch on January 11. While outflows from existing investment vehicles have significantly slowed, the potential sale of $1.6 billion worth of Genesis assets could trigger more outflows in the coming months.
While outflows from other regions have stabilized, small outflows of $17 million and $10 million were observed from Canada and Germany respectively. In contrast, Switzerland experienced a notable inflow of $35 million last week.
Bitcoin Dominance and Rising Sentiment for Altcoins
Bitcoin continues to dominate inflows, accounting for approximately 98% of the total. Its upward price trajectory positively influenced sentiment towards Ethereum and Cardano, which attracted inflows of $16 million and $6 million respectively. Additionally, small-scale inflows were recorded for Avalanche with $500,000, Polygon with $400,000, and Tron with $400,000.
Mixed Performances: Uniswap and Short-Bitcoin
Despite the overall increase in investments, Uniswap and Short-focused Bitcoin products saw small outflows of $500,000 and $400,000 respectively.
Blockchain-focused stocks experienced an outflow of $67 million from one issuer, while all other issuers saw inflows totaling $19 million.
This strong flow of investments into crypto assets reflects the continued confidence and interest in the cryptocurrency market. Both institutional and individual investors are turning to this evolving asset class, while the traditional financial landscape continues to undergo significant transformation.
