Bitcoin Drives Crypto Inflows to 26-Week High, Surpassing $2.5B

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tl;dr

Bitcoin has contributed to crypto inflows reaching a 26-week high. The net inflows have more than doubled compared to the previous week, with funds tied to Bitcoin accounting for over 99% of total inflows.

Bitcoin Drives Crypto Inflows to 26-Week High

For the third week in a row, net inflows into crypto funds exceeded $2.5 billion. The funds tied to Bitcoin accounted for over 99% of total inflows. Digital asset funds attracted record inflows of $2.45 billion in total last week, fueled by rising institutional interest in spot Bitcoin [BTC] ETFs.

Record Inflows and Rising Institutional Interest

With the latest figures, total inflows since the start of the year 2024 have risen to over $5 billion. In addition, total assets under management (AuM) rose to a 26-month high of $67 billion. The recent price movements, which brought leading assets like Bitcoin and Ethereum [ETH] to cyclical highs, were a major driver of the rising AuM.

Bitcoin Spot ETFs in the Spotlight

Funds tied to Bitcoin accounted for over 99% of total inflows last week, bringing inflows since the start of the year to $5.02 billion. Much of the activity revolved around the newly introduced spot ETFs on the US market. In fact, according to the report, 99% of total inflows last week came from the USA.

Ethereum-Linked Funds on the Move

Funds tied to other major cryptocurrencies like Ethereum also recorded impressive inflows of over $21 million. On the other hand, Solana [SOL] saw an outflow of $1.6 million, which the report attributed to the negative sentiment following the recent network outage.

Our Assessment

The recent figures show a clear interest from institutional investors in cryptocurrencies, especially Bitcoin. This could be a sign of increasing acceptance of cryptocurrencies as an asset class. It remains to be seen whether this trend will continue, but the current figures are certainly encouraging.

Sources: Aniket Verma, Saman Waris, CoinShares, SoSo Value, CoinMarketCap.

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Casinos: 48
Profile Bitcoin
Symbol BTC
Coin type Alt Coin
Transaction Speed Slow
Pros
  • First cryptocurrency, therefore very widespread
  • Largest selection of casinos among the coins
  • Many BTC based bonus offers
Cons
  • Fairly low transaction speed
Price 60.429,00 €
Percent Change 24h -0,26 %
Percent Change 7d -5,27 %
Percent Change 30d -6,41 %
Percent Change 60d 0,33 %
Percent Change 1y 142,97 %
Market Cap 1.193.021.517.827,00 €
Max. Supply 21.000.000
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