Crypto Investment Funds Attracts $1.35B Inflows, AUM Hits $97B

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Crypto Investment Funds Attracts $1.35B Inflows, AUM Hits $97B – Crypto News

Published

2 years ago

July 22, 2024

Dripp

Crypto investment funds have recorded $1.35 billion inflows in the last seven days taking figures in the last 21 days to $3.2 billion. Most sectors gained traction in the same period as sentiments continued to soar after a flip of macroeconomic factors. Investors set sights on sustained inflows as the market preps for spot Ethereum ETF listings.

Crypto Investment Funds Recorded Upticks

Digital asset products have marked significant inflows as the market sentiment grows. A new CoinShares report shows $1.35 billion upticks in crypto investment funds. This figure raises three weeks’ consecutive gains to $3.2 billion. Market leader Bitcoin (BTC) saw $1.27 billion in the last seven days while short Bitcoin marked $1.9 million in outflows taking total numbers to $44 million since March. In a nutshell, this points to improved sentiments since the asset’s halving.

However, blockchain equities saw exits, unlike tokens posting $8.5 million figures last week. Despite this, trading volumes were up 45% from the previous week showing strong market activity while the crypto market saw a 22% decline in volumes.

Geographically, the United States led movements after attracting $1.3 billion while Canada saw $7.8 million. “Regionally the picture was more mixed relative to last week, with the US and Switzerland seeing significant inflows of US$1.3bn and US$66m respectively, while Brazil and Hong Kong saw minor outflows totaling US$5.2m and US$1.9m respectively.”

Also Read: Shytoshi Kusama Spotlights Shiba Inu’s TREAT Token Blunder

Altcoin Products Rebound

The jump in crypto investment funds stretched beyond Bitcoin to altcoins as the digital asset saw positive swings. Ethereum (ETH) notched $45.3 million inflows taking monthly numbers to $128 million. This development follows increased optimism for spot Ethereum ETFs in the United States.

Multi-asset recorded $16.7 million in flows while Solana (SOL) and Ripple (XRP) gained $9.6 million and $0.5 million respectively. These inflows raised the AUM of crypto investment funds to $97.6 billion as bulls point to an uphill climb. This year, crypto products have spiked following the approval of spot Bitcoin ETFs which marked renewed institutional inflow in the digital asset sector. The turnaround of market sentiments also led to higher DeFi numbers.

Also Read: DeFi TVL Soars 72% to $94 Billion This Year: Binance

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