Crypto Funds Hit $2.5 bn Weekly Inflow Record
Crypto funds at asset managers like BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares recorded record inflows of $2.45 billion globally last week, with the new U.S. spot Bitcoin exchange-traded funds leading the way.
Assets under management at these firms now stand at $67 billion, the highest level since December 2021. Bitcoin is currently trading at $52,188, up nearly 25% year-to-date.
The United States dominated, accounting for 99% of the weekly inflows, totaling $2.4 billion. Bitcoin investment products also dominated, with Ethereum leading in altcoin-based funds with $21.1 million in inflows.
(With inputs from Shikha Singh)
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