Crypto Products’ Inflows in 2024 Reach $1.5 Billion

In its latest report, CoinShares indicated that from January 27 to February 2, investments in cryptocurrency products totaled $708 million, bringing the total for the year to $1.58 billion.

This marks a significant increase from the previous week, during which there was a net outflow of $499.7 million.

The total assets under management also grew, reaching $53 billion. The report also noted the growing popularity of spot Bitcoin ETFs, with net inflows of $1.7 billion since the product was approved.

Despite outflows of $6 billion from GBTC, competitors saw inflows of $7.7 billion. Trading volume decreased from $10.6 billion to $8.2 billion, but remains higher than the 2023 average of $1.5 billion.

Investor interest in Bitcoin-related instruments also increased, with net inflows of $703 million, following the previous reporting period’s outflow of $478.9 million.

On the other hand, there was a small withdrawal of $5.3 million from structures allowing for short positions on Bitcoin, after a net inflow of $10.6 million in the previous week.