Key Takeaways
- • Digital asset investment products drew $3.7 billion in inflows in the week ended July 11, the second-largest weekly figure on record, according to CoinShares' weekly roundup.
- • Total crypto ETP assets under management crossed $200 billion for the first time, reaching $211 billion, marking the 13th consecutive week of gains.
- • Bitcoin products accounted for $2.7 billion of the inflows, lifting Bitcoin fund AUM to $179.5 billion, equal to 54% of AUM held in gold ETPs.
- • U.S.-listed products captured nearly $3.74 billion of inflows, while Germany and Sweden recorded outflows of $85.7 million and $15.7 million.
Summary
Digital asset funds attracted $3.7 billion of inflows last week, the second-largest weekly figure on record, according to data tracked by crypto asset manager CoinShares, which reported the figures in its weekly roundup on Monday. The inflows trail only the week ended Dec. 6 of last year, when they topped $4 billion.
The flows extended a 13th consecutive week of gains for crypto investment products, pushing total assets under management past $200 billion for the first time to $211 billion. U.S.-listed products dominated the activity with nearly $3.74 billion registered, while products in Germany and Sweden saw outflows of $85.7 million and $15.7 million respectively.
Bitcoin products accounted for $2.7 billion of the inflows, bringing Bitcoin fund AUM to $179.5 billion. CoinShares said that figure equals 54% of the AUM held in gold exchange-traded products.
The activity coincided with a sharp move in the bitcoin market. The week ended July 11 marked what the report described as a kickstart to the crypto bull market, with bitcoin gaining nearly 10% to reach an all-time high of around $118,000. According to CoinDesk data, bitcoin continued climbing into the current week, reaching as high as $122,873.45.
The flows extended a 13th consecutive week of gains for crypto investment products, pushing total assets under management past $200 billion for the first time to $211 billion. U.S.-listed products dominated the activity with nearly $3.74 billion registered, while products in Germany and Sweden saw outflows of $85.7 million and $15.7 million respectively.
Bitcoin products accounted for $2.7 billion of the inflows, bringing Bitcoin fund AUM to $179.5 billion. CoinShares said that figure equals 54% of the AUM held in gold exchange-traded products.
The activity coincided with a sharp move in the bitcoin market. The week ended July 11 marked what the report described as a kickstart to the crypto bull market, with bitcoin gaining nearly 10% to reach an all-time high of around $118,000. According to CoinDesk data, bitcoin continued climbing into the current week, reaching as high as $122,873.45.
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