Digital asset funds hit record $31.3B inflows as Bitcoin leads the charge News ▸ US ▸ Bitcoin ▸ Investments
Digital asset funds hit record $31.3B inflows as Bitcoin leads the charge
Digital asset funds reach $116B as Bitcoin and US inflows demonstrate growing market confidence.
1 min read
Updated: Nov. 11, 2024 at 3:54 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Digital asset funds saw inflows of $1.2 billion last week, marking a fifth straight week of positive momentum, according to crypto asset manager CoinShares.
The increase pushed year-to-date inflows to an unprecedented $31.3 billion, bringing global assets under management to a record $116 billion.
CoinShares’ head of research, James Butterfill, highlighted that trading volumes for exchange-traded products (ETPs) jumped to $20 billion during this period—their highest level since April.
Bitcoin and US lead inflows
CoinShares reported that Bitcoin captured $1.8 billion in inflows last week, contributing to a $9 billion influx since the Federal Reserve’s interest rate cut in September.
Butterfill attributed this momentum to favorable macroeconomic conditions and significant changes in the US political landscape that bolstered investors’ confidence in the market. He stated:
“A combination of a supportive macro environment and seismic shifts in the US political system being the likely reason for such supportive investor sentiment.”
Notably, US-based funds accounted for $1.95 billion of the $1.98 billion in inflows, followed by Switzerland at $23 million and Germany at $20 million.
Notably, the US Bitcoin ETF sector remained especially active, with BlackRock’s IBIT fund drawing in roughly $1.3 billion, while outflows from Grayscale’s products continued to decline.
Market observers noted that the strong inflows into IBIT indicate a growing interest in Bitcoin-backed financial products. In addition, these flows also point to the broader trend of digital assets gaining traction within mainstream investment portfolios.
Ethereum and altcoins show renewed interest
Ethereum also experienced a surge in inflows, drawing $157 million, its highest weekly figure since exchange-traded funds launched in July. This uptick signals a renewed interest in ETH among institutional investors.
Other altcoins saw modest gains as well. Solana, Uniswap, and TRON posted inflows of $3.9 million, $1 million, and $0.5 million, respectively.
Meanwhile, blockchain equities attracted an additional $61 million, underscoring rising demand across the digital asset space.
Mentioned in this article
Bitcoin 
Ethereum 
Solana 
TRON 
Uniswap 
BlackRock 
CoinShares 
Grayscale Investments iShares Bitcoin Trust 
Grayscale Bitcoin Trust Author 
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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In this article
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ethereum
$3,305.59
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Solana
$216.649
Solana is a high-performance blockchain platform that utilizes a unique consensus algorithm called “Proof of History” to achieve fast transaction speeds and low fees.
Uniswap
$9.05711
Since its inception, the Uniswap Protocol (“Uniswap”) has served as a trustless and highly decentralized financial infrastructure.
BlackRock
BlackRock, synonymous with global asset management, is an American multinational investment management corporation based in New York City.
Grayscale Investments
Established in 2013 by Digital Currency Group, Grayscale Investments is a trusted authority on digital currency investing and cryptocurrency asset management.
The BlackRock Bitcoin ETF, known as the iShares Bitcoin Trust (IBIT), is an investment fund that provides regulated exposure to Bitcoin for investors.
The Grayscale Bitcoin Trust (GBTC) is a digital currency investment product that provides investors with access to Bitcoin through traditional investment channels.