As Bitcoin continues to rise and hit new all-time highs, the amount of capital flowing into global crypto investment products reached $1.98 billion last week, and the assets under management also reached a new high of $116 billion.
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ToggleCapital continues to flow into crypto investment products
According to CoinShares data, global crypto funds managed by asset managers such as BlackRock, Bitwise, Fidelity, Grayscale, ProShares and 21Shares recorded net inflows for the fifth consecutive week, with an increase of $1.98 billion last week, reaching a record $31.3 billion year-to-date, and combined with the rise in Bitcoin prices, the global crypto assets under management have reached a new high of $116 billion.
The regional inflows were mainly concentrated in the US, with $1.95 billion, while Switzerland and Germany also saw inflows of $22 million and $20 million respectively.
Bitcoin still dominates, with assets under management of $94.6 billion
In terms of asset classes, Bitcoin dominates, with net inflows of $29.4 billion year-to-date and cumulative assets under management of $94.6 billion; Ethereum is second, with net inflows of $950 million year-to-date and cumulative assets under management of $12.1 billion. Multi-asset (indicating a product that invests in multiple cryptocurrencies) and Solana follow.
Macro environment support and changes in US politics drive overall crypto rally
Since the Federal Reserve began its current rate cut cycle in September, Bitcoin has seen net inflows of $9 billion. CoinShares believes that the combination of macro environment support and the significant changes in the US political system may be the reason for the surge in investor sentiment.
Ethereum, which has been struggling, saw inflows of $157 million last week, the largest inflow since its launch in July this year, signaling a significant improvement in market sentiment.
Other Altcoins also saw capital inflows, particularly Solana with net inflows of $3.9 million, Uniswap with $1 million, and TRON with $500,000. There were also $61 million in inflows to blockchain-related stocks.
Bitcoin hit a new all-time high of $89,530 this morning, and spot Bitcoin ETFs and crypto-related companies like MicroStrategy and Coinbase have seen impressive stock price gains.
(Bitcoin at $89K! MicroStrategy buys another $200 million in BTC)
