Global crypto funds rebound with nearly $900 million in net inflows last week
A week after crypto-based investment products registered record outflows of nearly $1 billion, the financial instruments rebounded significantly with roughly $900 million in net inflows, according to CoinShares.
The previous week , funds managed by asset managers such as BlackRock, Fidelity and Grayscale reported record outflows of $942 million, CoinShares said at the time.
With last week's boost in net inflows and bitcoin's price climbing above $70,000 for much of last week, the combined assets under management for all the crypto funds tracked by CoinShares hit $97.9 billion.
Weekly crypto asset flows. Images: CoinShares.
Capital pouring into bitcoin-related funds continues to make up for the lion's share of activity. BlackRock and Fidelity's spot bitcoin ETFs each registered more than $600 million of inflows last week, according to CoinShares. Grayscale's spot bitcoin ETF witnessed $960 million in outflows, bringing its assets under management to about $35 billion.
The Ark Invest 21 Shares spot bitcoin had an exceptional week, registering more than $300 million in net inflows. The previous week, the fund — which now has over $3 billion in assets under management — brought in a mere $30 million of capital inflow.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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