Digital assets manager CoinShares says institutions poured $1.1 billion into crypto investment products one month after the U.S. Securities and Exchange Commission (SEC) approved spot BTC<\/a> exchange-traded funds (ETFs).<\/p>\n In its latest Digital Asset Fund Flows\u00a0report<\/a>, CoinShares finds that crypto investment products saw over a billion dollars in inflows last week and show no signs of slowing.<\/p>\n \u201cDigital asset investment products saw large inflows totaling $1.1 billion, bringing year-to-date inflows to $2.7 billion. Coupled with recent price rises, total assets under management (AuM) is at the highest level since early 2022 at $59 billion.\u201d<\/em><\/p>\n According to CoinShares, most of the inflows were focused on BTC ETFs, which have reached almost $3 billion in the last month. The firm says Bitcoin\u2019s price appreciation \u201cbuoyed sentiment\u201d for Ethereum (ETH<\/a>) and Cardano (ADA<\/a>), which both saw more inflows than the rest of the altcoin market.<\/p>\n \u201cRegionally, the focus remained on the newly issued spot-based Bitcoin ETFs in the US, which saw a net $1.1 billion inflows last week, bringing inflows since the January 11th launch to $2.8 billion. The outflows from incumbents have slowed significantly, but the potential sale of the Genesis holdings of $1.6 billion could prompt further outflows in the coming months\u2026\u00a0<\/em><\/p>\n Bitcoin saw almost 98% of the inflows, while the price appreciation also buoyed sentiment for Ethereum and Cardano.\u201d<\/em><\/p>\n BTC, per usual, saw the lion\u2019s share of inflows, taking in 98% of last week\u2019s inflows at $1.09 billion. Ethereum (ETH<\/a>), Cardano (ADA<\/a>), Avalanche (AVAX<\/a>), Polygon (MATIC<\/a>), and Tron (TRX<\/a>) each saw inflows of $16 million, $6 million, $0.5 million, $0.4 million, and $0.4 million, respectively.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
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