Crypto Investment Products Surpass $100 Billion in Global Assets, CoinShares Reports

Be Careful: Crypto Drainers' Stealing Cryptocurrencies From Wallets

Crypto Investment Products Surpass $100 Billion in Global Assets, CoinShares Reports

Bollywoodfever, March 14: Asset management giants like BlackRock, Fidelity, ProShares, and 21Shares have collectively surpassed $100 billion in global assets under management (AUM) within their crypto investment products, as detailed by CoinShares

This significant milestone comes amidst a surge in global crypto funds, which have seen unprecedented inflows coupled with the crypto market’s recent uptick in value.

Be Careful: Crypto Drainers' Stealing Cryptocurrencies From Wallets

James Butterfill, the Head of Research at CoinShares, highlighted the achievement, noting, “Total digital asset exchange-traded products exceeded the $100 billion threshold for the first time in history.” This landmark achievement follows closely on the heels of global crypto funds surpassing the 2021 yearly inflow record in less than three months into 2024, largely propelled by the introduction of new spot bitcoin ETFs in the United States.

Butterfill further explained the dramatic increase in inflows, stating, “Digital Assets ETFs/ETPs have outperformed the 2021 record, with year-to-date inflows now reaching $12 billion, surpassing the total $10.6 billion recorded in 2021.” This surge is predominantly attributed to the new U.S. spot bitcoin ETFs, which alone accounted for over $2.2 billion in inflows this week. Notably, a single day saw a record net inflow of $1 billion on Tuesday, primarily into BlackRock’s IBIT spot bitcoin ETF.

The IBIT ETF set a new daily inflow record by attracting $849 million on Tuesday, pushing its AUM beyond the $15 billion mark. Overall, the AUM for all U.S. spot bitcoin ETFs now stands at approximately $61 billion, showcasing the growing investor interest and confidence in digital assets.

Also Read, Family Dollar to Close 1,000 Stores Amid Inflation and Safety Concerns

Bookmark and Follow us for More Business News

Pooja Chauhan

Pooja Chauhan: Your Source for Entertainment and Box Office News Pooja Chauhan is a passionate writer and dedicated journalist specializing in delivering the latest updates and insights from the world of entertainment and box office. With a keen eye for detail and a deep love for cinema, Pooja brings her readers accurate and engaging coverage of all things related to movies, celebrities, and the dynamic world of showbiz. Her commitment to keeping her audience well-informed and entertained makes her a valuable voice in the realm of entertainment journalism. When she's not busy uncovering the latest scoops, Pooja enjoys exploring classic films and indulging in creative writing." Contact us: admin@bollywoodfever.co.in

Leave a Reply