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.
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