Surge in crypto fund inflows: july records $3. 2 billion amid investor optimism

Surge in Crypto Fund Inflows: July Records $3.2 Billion Amid Investor Optimism

Last Updated: July 26, 2024By

Cryptocurrency investment vehicles witnessed a substantial surge in capital influx, amassing $1.35 billion in the preceding week alone, thereby escalating the aggregate inflows for the past triad of weeks to an impressive $3.2 billion, as delineated by CoinShares, a renowned asset management entity.

Bitcoin unequivocally commandeered the inflow spectrum, garnering $1.27 billion, juxtaposed with short Bitcoin products which encountered outflows of $1.9 million. Since March, short Bitcoin exchange-traded products (ETPs) have cumulatively registered outflows amounting to $44 million, encapsulating 56% of assets under management.

Read more: Brevan Howard’s BH Digital Crypto Fund Soars 20%, Reaching $2.3 Billion in AUM

Ethereum exhibited an influx of $45 million, thus surpassing Solana to emerge as the altcoin with the preeminent year-to-date inflows, now standing at $103 million. Solana, not to be overshadowed, attracted $9.6 million in the past week, elevating its year-to-date total to $71 million. Additionally, Litecoin merits a notable mention with $2.2 million in inflows.

Furthermore, crypto funds tethered to assorted digital asset baskets observed weekly inflows of $16.7 million, indicative of a burgeoning predilection for diversification amongst investors. Geographically, the United States and Switzerland were at the forefront with regional inflows of $1.3 billion and $66 million respectively, whereas Brazil and Hong Kong encountered minor outflows of $1.7 million and $1.9 million.

Brazil, in particular, registered merely two weeks of net outflows this year, thereby positioning itself as the fourth-largest nation in terms of year-to-date assets under management. ETP trading volumes augmented by 45% on a week-to-week basis, ascending to $12.9 billion, and constituting 22% of the comprehensive crypto market volumes. Contrariwise, blockchain equities faced outflows of $8.5 million in the preceding week, notwithstanding the fact that the majority of ETFs outperformed global equity indices.

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About the Author: Eunji Lim

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