tl;dr
Digital asset investment funds garnered a record $2.7B of inflows last week, according to CoinShares, as the rally in cryptocurrency prices built steam. This brings the total inflows this year to $10.3B, positioning the market just below 2021's record annual inflow of $10.6B. The heavy inflows can b...
Digital asset investment funds garnered a record $2.7B of inflows last week, according to CoinShares, as the rally in cryptocurrency prices built steam. This brings the total inflows this year to $10.3B, positioning the market just below 2021's record annual inflow of $10.6B. The heavy inflows can be attributed to the dominance of bitcoin, which accounted for $2.6B of the total inflows for the week ended March 8. The report also highlighted that bitcoin inflows now represent 14% of total assets under management, signaling a significant preference for this digital asset among investors.
Despite the crypto-price gains, inflows into short-bitcoin funds continued, garnering $11M last week. Earlier this week, bitcoin rose past $72K for the first time, hitting $72.1K at the time of writing. With this surge, it's evident that the cryptocurrency market's momentum remains strong, fueled by substantial investor confidence and increasing institutional interest. This data underscores the persistent rise of digital assets as a significant investment class, solidifying their position in the broader financial landscape.
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