📰 Table Of Contents
Digital Asset Investment Funds Record Inflows
Digital asset investment funds recorded $598 million in inflows in the last seven days as Assets Under Management (AUM) reached $67.4 billion. This growth in investment indicates increased activity around cryptocurrency investment products and the broader market.
Bitcoin ETF Inflows and Market Momentum
The inflow in the last seven days marked a consecutive fourth week of gains, driven by spot ETF inflows in the market. Despite slight sell-offs, Bitcoin price has maintained momentum, with inflows hitting $598 million last week. This year, inflows have soared past $5.7 billion as traditional investors increase their exposure to the asset.
Institutional Market Drives Digital Asset Products
Institutional investors remain the most significant determinant of the market upswing, with present inflows going up 55% from volumes recorded in 2021. This signals higher institutional demand for digital assets, with funds expecting further growth. The bull market in 2021, which saw the price of Bitcoin (BTC) soar above $64,000, has also positively influenced other altcoin price performance.
Bitcoin Leads Weekly Inflows
As anticipated, the market leader, Bitcoin, saw $570 million in inflows last week, with yearly figures reaching $5.6 billion. At press time, Bitcoin trades at $51,353, down 1.48% in the last seven days. Due to this, short-Bitcoin posted slight inflows of $3.9 million. The market leader AUM stands at $49.5 billion after $4.1 billion in monthly flows.
Altcoin Inflows and Market Trends
Looking at altcoins, Ethereum (ETH) recorded $17 million in inflows, continuing its rise following reports of institutional demand around the asset. Ethereum trades at over $3,000 with a 6.1% increase in the last seven days, spurring gains. Other altcoins also recorded slight inflows, although recent events around Solana (SOL) saw its post $3 million outflows. Regionally, the United States dominated global numbers with $610 million gains, while Brazil and Switzerland saw $8.2 million and $2.1 million inflows, respectively.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
