Record $13.2 billion YTD inflow into digital assets eclipses 2021 total News ▸ US ▸ Bitcoin ▸ Investments
Record $13.2 billion YTD inflow into digital assets eclipses 2021 total
US, Bitcoin leads with nearly all $2.9 billion inflow into digital assets in landmark week.
2 min read
Updated: Mar. 18, 2024 at 4:11 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Last week, digital asset investment products experienced a $2.9 billion net flow, marking two consecutive weeks of record-breaking inflows, according to CoinShares’ latest weekly report.
This achievement propelled digital asset products to a new annual net flow record of $13.2 billion, exceeding the entire inflow for the 2021 bull run, which stood at $10.6 billion.
Furthermore, the spot Bitcoin exchange-traded funds in the US have significantly impacted the performance of digital asset products. This is evident in the total value of assets under the management of crypto ETPs, which reached an unprecedented milestone of $100 billion before a slight correction to $97 billion.
However, despite the significant inflows, trading volume remained steady at $43 billion.
“Trading volumes totaled $43 billion for the week, the same as the prior week records and comprising a larger 47% of overall global bitcoin volumes,” CoinShares head of research James Butterfill added.
US, Bitcoin dominates global flows.
Bitcoin remained the dominant force, with inflows totaling $2.896 billion, constituting 99.9% of the total $2.916 billion for the week.
A breakdown of the flows among providers showed that Grayscale GBTC ETF continued to experience significant outflows, totaling $1.2 billion, bringing the year-to-date outflow to $11.79 billion. ProShares BITO and Purpose ETF also saw outflows of $20 million and $36 million, respectively.
Conversely, BlackRock’s IBIT ETF saw $2.48 billion in inflow, surpassing its closest competitor, Fidelity FBTC, which attracted $718 million.
Geographically, the United States accounted for nearly all inflows, attracting $2.95 billion, with Australia and Brazil also registering $5 million and $23 million, respectively.
However, countries like Canada, Germany, Switzerland, and Sweden experienced outflows ranging from $9.7 million to $32.6 million.
While Bitcoin thrived, smart contract-enabled blockchain networks faced challenges last week, with Ethereum, Solana, and Polygon witnessing varying outflows. Ethereum outflows reached $13.9 million, while Solana saw $2.7 million in outflows.
Remarkably, Short Bitcoin products saw a positive net flow despite the prevailing bullish sentiment around Bitcoin, attracting $26 million in inflows for the week, bringing the year-to-date flow to $90 million.
Other assets that experienced inflows last week include Polkadot with $3.1 million, Litecoin with $2.3 million, Multi-asset with $3.2 million, Binance with $1.5 million, and Cardano with $1.2 million.
Mentioned in this article
Bitcoin 
Ethereum 
Solana 
Polygon 
Cardano 
BlackRock 
Fidelity Investments 
Grayscale Investments 
CoinShares iShares Bitcoin Trust 
Fidelity Wise Origin 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
$3,347.73
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Solana
$246.483
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.
Polygon
$0.45167
Polygon, a prominent layer 2 scaling solution on Ethereum, has emerged as a multifaceted and scalable platform, enhancing the Ethereum ecosystem’s capabilities.
Cardano
$0.80191
Cardano is a decentralized public blockchain and cryptocurrency project and is fully open source.
BlackRock
BlackRock, synonymous with global asset management, is an American multinational investment management corporation based in New York City.
Fidelity Investments
Fidelity Investments Inc., commonly referred to as Fidelity, is a multinational financial services corporation based in Boston, Massachusetts.
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 Fidelity Wise Origin Bitcoin Trust (FBTC) is a spot Bitcoin ETF that offers investors exposure to the price of Bitcoin.
The Grayscale Bitcoin Trust (GBTC) is a digital currency investment product that provides investors with access to Bitcoin through traditional investment channels.