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Last week, $1 billion flowed into crypto-denominated assets, pushing 2024 inflows to $14.9 billion.<\/p>\n
Institutional investors continue to accumulate crypto, according to CoinShare\u2019s latest Digital Asset Fund Flows Weekly Report<\/a><\/p>\n For the third straight week, large entities registered crypto asset inflows, adding $1.05 billion to their coffers. Notably, the number brings the total yearly inflows to $14.9 billion, an all-time high for 2024.<\/p>\n \u201cThe only other year reaching these levels was 2021 when we saw US$10.6 billion for the year,\u201d said James Butterfill, Head of Research of CoinShares<\/a>. <\/p>\n According to the report, the biggest winner of the week was Ethereum, which saw $36 million purchased by institutions, the highest figure since March. The SEC\u2019s approval of spot Ethereum ETFs<\/a> is likely driving renewed interest from large players, who have all but left ETH on the sidelines as they have accumulated Bitcoin.<\/p>\n Last week\u2019s bullishness wasn\u2019t enough to counter Ethereum’s red numbers over the past year. Institutions have offloaded sizable amounts of ETH, with year-to-date outflows reaching $22 million. Ethereum bulls are no doubt hoping that the ETF approval will reverse the overall trend.<\/p>\n Bitcoin continues to be the most favored asset by large entities, however. Last week, institutions added $1.05 billion to their portfolios, with cumulative flows topping $14.6 billion.<\/p>\n What has caught Butterfill off guard, he explained, is that Grayscale outflows have all but stopped<\/a> in the last weeks.<\/p>\nGBTC Outflows Have Nearly Stopped<\/h2>\n