Inflows into digital asset investment products reached a new high last week, eclipsing the previous week’s figures.by crypto asset management firm CoinShares, institutional investors poured $2.9 billion into the cryptocurrency funds last week, extending the winning streak to the seventh week.With this, year-to-date inflows surged to a whopping $13.2 billion, 24% higher than the total inflows recorded in the whole of 2021.
During the week, the total assets under management hit the magical $100 billion mark for the first time in history. However, due to the price correction at the end of the week, it fell slightly to $97 billion. Note that AuM is considered an important performance gradient of a fund. A higher AuM typically attracts higher investments.As observed in previous weeks, the spike was fueled by significant investments into new spotdata, these issuers netted $2.57 billion in inflows last week.To the market’s relief, outflows from Grayscale Bitcoin Trust trailed inflows into other spot ETFs yet again, with BlackRock and Fidelity cornering the major chunk of investments.
As of the 15th of March, the combined AUM of all the U.S. spot bitcoin ETFs was $58 billion, accounting for 4.35% of Bitcoin’s total supply.The largest institutional crypto product Bitcoin saw inflows worth $2.86 billion last week, taking its YTD inflows to a whopping $12.86 billion. Needless to say, Bitcoin has dominated total inflows into the digital asset market this year, accounting for 97%.