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Crypto Funds Weekly Inflows Surge to Record of $2.7B
The record annual inflow set in 2021 is likely to be reached next week.
Updated Mar 11, 2024, 2:56 p.m. Published Mar 11, 2024, 2:55 p.m.
It was another big week for digital asset investment funds, with a record $2.7 billion of inflows bringing the total to $10.3 billion year-to-date, according to CoinShares.
The record annual inflow of $10.3 billion in 2021 seems likely to be taken out next week, less than three months into 2024.
It's all about bitcoin (BTC), which accounted for $2.6 billion of last week's inflows as the U.S.-based spot ETFs continued to add thousands of coins per day alongside a major rally in prices. Year-to-date bitcoin inflows now account for 14% of bitcoin assets under management, said CoinShares.
A check of other notable tokens finds Solana (SOL) having garnered $24 million of inflows last week.
Bitcoin hit a fresh lifetime high on Monday, surpassing $72,000.
Lyllah Ledesma
Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds a master's degree from New York University in Business and Economics and an undergraduate degree in Political Science from the University of East Anglia. Lyllah holds bitcoin, ether and small amounts of other crypto assets.
