Bitcoin drives crypto ETP market flows as Grayscale sell-off slows

Digital asset investment products posted over $700 million in inflows during the week ending Feb. 2, reversing a prior week of outflows — due mainly to a flood of investors to Bitcoin products in the United States, according to alternative asset manager CoinShares.

Inflows into the global digital asset product market amounted to $708 million, with United States-listed products making $720 million of inflows in the week. Bitcoin products, including the newly launched spot Bitcoin ETFs, accounted for most digital asset product inflows at $703 million, according to the data.

The number is a reversal of outflows from the previous week, which totalled $499.7 million across all digital asset investment products.

The United States’ newly issued spot exchange-traded funds (ETFs) saw $1.7 billion come in over the week, bringing total inflows since launch to $7.7 billion.

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Feb-6-2024 08:32:24 AM