According to CoinShares analyst James Butterfill, cryptocurrency-based investment vehicles rebounded significantly last week with net inflows of $862 million. Data has been published At X.
Last week, funds managed by asset managers including BlackRock, Fidelity and Grayscale reported record outflows of $942 million, CoinShares said at the time.
With net inflows increasing last week and the price of Bitcoin rising above $70,000 for most of last week, total assets under management across all cryptocurrency funds tracked by CoinShares reached $97.9 billion.
Weekly cryptocurrency asset flows. Image: CoinShares.
Capital pouring into Bitcoin-related funds continues to replenish the lion’s share of activity. BlackRock and Fidelity’s spot Bitcoin ETFs each saw inflows of more than $600 million last week, according to CoinShares. Grayscale’s spot Bitcoin ETF recorded an outflow of $960 million, bringing its assets under management to approximately $35 billion.
Ark Invest 21 Shares Spot Bitcoin had an exceptional week with net inflows of over $300 million. The fund, which currently manages more than $3 billion in assets, received capital inflows of just $30 million last week.
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About the author
RT Watson is a senior reporter at The Block, covering a variety of topics including US-based companies, blockchain games, NFTs, and more. He previously covered entertainment for The Wall Street Journal, writing about Disney, Netflix, Warner Bros. and the creator economy, focusing primarily on technological disruption across media. Previously, she covered corporate, economic and political news in Brazil at Bloomberg. She interviewed a wide range of figures for RT, including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers, and convicted criminals. She holds a Master’s degree in Digital Sociology.