Crypto Funds Weekly Inflows Surge to Record of $2.7B
The record annual inflow set in 2021 is likely to be reached next week.
Mar 11, 2024 at 2:55 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/NMPQRGFFRVGWJARJR2IJZD7V2I.png)
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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.
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Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.