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Home»ADOPTION NEWS»Global cryptocurrency investment product exceeds $100 billion in AUM for the first time
ADOPTION NEWS

Global cryptocurrency investment product exceeds $100 billion in AUM for the first time

By Crypto FlexsMarch 14, 20243 Mins Read
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Global cryptocurrency investment product exceeds 0 billion in AUM for the first time
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Funding • March 14, 2024, 12:54 PM EDT.

Posted 1 minute ago In ~

According to CoinShares, cryptocurrency investment products from asset managers such as BlackRock, Fidelity, ProShares, and 21Shares have exceeded $100 billion in assets under management globally.

Global cryptocurrency funds have seen record inflows in recent weeks, which, combined with the recent price rise in the cryptocurrency market, have led to record AUM. “Total digital asset exchange-traded products have surpassed $100 billion for the first time,” said James Butterfill, head of research at CoinShares. wrote.

Digital asset investment product AUM and cumulative flow. video: Coin Share.

The AUM milestone was achieved just one day after the global cryptocurrency fund shattered its 2021 annual inflow record, less than three months into 2024. This was driven by significant inflows generated by new spot Bitcoin ETFs in the US.

“Digital asset ETFs/ETPs have broken records in 2021, with inflows over the past few days now reaching $12 billion for the year, compared to $10.6 billion for all of 2021,” James Butterfill, head of research at CoinShares, said on Wednesday. He said.

US Spot Bitcoin ​​ETF Impact

New U.S. spot Bitcoin ​ETFs alone attracted more than $2.2 billion in inflows this week. This includes a record daily net inflow of $1 billion on Tuesday, primarily comprised of BlackRock’s IBIT spot Bitcoin ​​ETF.

IBIT alone has more than $15 billion in assets under management, recording daily inflows of $849 million on Tuesday. The total AUM of all U.S. spot Bitcoin ​ETFs currently stands at approximately $61 billion.

Earlier this week, CoinShares completed the acquisition of Valkyrie Funds, which includes the BRRR spot Bitcoin ​ETF, allowing the European asset manager to expand into the U.S. market.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

James Hunt is a reporter for The Block, based in the United Kingdom. As a writer for The Daily newsletter, James also brings you up to speed on the latest cryptocurrency news every week. Before joining The Block in 2022, James spent four years in the industry as a freelance writer, contributing content to publications and cryptocurrency projects. James’ coverage covers everything from Bitcoin and Ethereum to layer 2 scaling solutions, avant-garde DeFi protocols, evolving DAO governance structures, the latest NFTs and memecoins, the regulatory environment, cryptocurrency company trading, and the latest market updates. Comprehensive. You can contact James on Telegram or X via @humanjets or email him at (email protected).

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