- The AuM surged to a two-year high of $59 billion.
- The potential sale of Genesis Global’s holdings could be a major bearish catalyst.
Digital asset funds recorded net inflows for the second consecutive week, as per the latest report by digital asset management firm CoinShares.
Crypto market rebounds and how!
Investments totaling over a billion were made into the cryptocurrency market last week, an increase of 55% from the week before.
Source: CoinShares
With the latest figures, the total inflows since the beginning of 2024 reached $2.7 billion. Moreover, the total assets under management (AuM) surged to a two-year high of $59 billion.
Note that AuM is considered as an important performance gradient of a fund. A higher AuM tends to attract further investments.
Spot ETFs drive the surge
Funds tied to Bitcoin [BTC] attracted nearly 98% of the total outflows last week, taking year-to-date (YTD) inflows to $2.5 billion.
Much of the action revolved around the dozen odd Bitcoin spot ETFs in the U.S. that were granted regulatory approval last month.
Newly issued ETFs have received $2.8 billion in inflows since the launch. On the other hand, outflows from the Grayscale Bitcoin Trust (GBTC), which transitioned into a spot ETF, were on the decline.
This was supported by data gathered by AMBCrypto from SoSo Value. As evident, daily outflows from the fund have dropped 92% from the peak on the 22nd of January.
Source: SoSo Value
While this was a welcome development, the report cautioned about the potential liquidation of $1.6 billion of bankrupt crypto lender Genesis Global’s holdings. Such an event could apply significant downward pressure on the market.
Other crypto products see demand as well
Meanwhile, funds linked to other major cryptos like Ethereum [ETH] and Cardano [ADA] also experienced considerable inflows, at $16 million and $6 million respectively.
The spike in investments followed impressive price appreciation for the coins, both of which recorded gains of 6.8% in the last seven days, according to CoinMarketCap.
- The AuM surged to a two-year high of $59 billion.
- The potential sale of Genesis Global’s holdings could be a major bearish catalyst.
Digital asset funds recorded net inflows for the second consecutive week, as per the latest report by digital asset management firm CoinShares.
Crypto market rebounds and how!
Investments totaling over a billion were made into the cryptocurrency market last week, an increase of 55% from the week before.
Source: CoinShares
With the latest figures, the total inflows since the beginning of 2024 reached $2.7 billion. Moreover, the total assets under management (AuM) surged to a two-year high of $59 billion.
Note that AuM is considered as an important performance gradient of a fund. A higher AuM tends to attract further investments.
Spot ETFs drive the surge
Funds tied to Bitcoin [BTC] attracted nearly 98% of the total outflows last week, taking year-to-date (YTD) inflows to $2.5 billion.
Much of the action revolved around the dozen odd Bitcoin spot ETFs in the U.S. that were granted regulatory approval last month.
Newly issued ETFs have received $2.8 billion in inflows since the launch. On the other hand, outflows from the Grayscale Bitcoin Trust (GBTC), which transitioned into a spot ETF, were on the decline.
This was supported by data gathered by AMBCrypto from SoSo Value. As evident, daily outflows from the fund have dropped 92% from the peak on the 22nd of January.
Source: SoSo Value
While this was a welcome development, the report cautioned about the potential liquidation of $1.6 billion of bankrupt crypto lender Genesis Global’s holdings. Such an event could apply significant downward pressure on the market.
Other crypto products see demand as well
Meanwhile, funds linked to other major cryptos like Ethereum [ETH] and Cardano [ADA] also experienced considerable inflows, at $16 million and $6 million respectively.
The spike in investments followed impressive price appreciation for the coins, both of which recorded gains of 6.8% in the last seven days, according to CoinMarketCap.
can you get generic clomid without rx where can i buy cheap clomid without dr prescription where to get generic clomid no prescription how can i get generic clomid without prescription can i get cheap clomiphene where to get clomiphene price clomiphene prices
The vividness in this serving is exceptional.
Thanks recompense sharing. It’s outstrip quality.
buy zithromax 500mg pills – tetracycline 250mg pills flagyl canada
semaglutide 14mg drug – order cyproheptadine pills buy periactin generic
order domperidone pills – where to buy cyclobenzaprine without a prescription cyclobenzaprine sale
purchase inderal sale – inderal cheap methotrexate 2.5mg cost
amoxil online order – ipratropium 100 mcg oral order ipratropium 100 mcg online cheap
zithromax drug – order tindamax 500mg for sale order nebivolol 5mg without prescription
order augmentin 625mg sale – atbio info oral acillin
buy nexium 40mg generic – nexium to us where to buy esomeprazole without a prescription
order warfarin – coumamide hyzaar where to buy
order meloxicam 15mg online – mobo sin meloxicam generic
buy deltasone 10mg for sale – apreplson.com buy generic prednisone 5mg
ed pills that work quickly – https://fastedtotake.com/ buy erectile dysfunction medication
amoxil over the counter – comba moxi amoxicillin online buy
cheap diflucan – site forcan buy online
buy cenforce 100mg sale – https://cenforcers.com/ order cenforce 50mg without prescription
cialis and alcohol – https://ciltadgn.com/# buying cialis online
buy ranitidine 300mg generic – purchase ranitidine sale ranitidine 150mg us
side effects cialis – reliable source cialis when does the cialis patent expire