Cumulatively, crypto-based investment vehicles rebounded significantly last week by registering $862 million in net inflows, according to CoinShares analyst James Butterfill, who posted the data on X.
The previous week, funds managed by asset managers such as BlackRock, Fidelity and Grayscale reported record outflows of $942 million, CoinShares said at the time.
With last week’s boost in net inflows and bitcoin’s price climbing above $70,000 for much of last week, the combined assets under management for all the crypto funds tracked by CoinShares hit $97.9 billion.
Weekly crypto asset flows. Images: CoinShares.
Capital pouring into bitcoin-related funds continues to make up for the lion’s share of activity. BlackRock and Fidelity’s spot bitcoin ETFs each registered more than $600 million of inflows last week, according to CoinShares. Grayscale’s spot bitcoin ETF witnessed $960 million in outflows, bringing its assets under management to about $35 billion.
The Ark Invest 21 Shares spot bitcoin had an exceptional week, registering more than $300 million in net inflows. The previous week, the fund — which now has over $3 billion in assets under management — brought in a mere $30 million of capital inflow.
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RT Watson is a senior reporter at The Block who covers a wide array of topics including U.S.-based companies, blockchain gaming and NFTs. Formerly covered entertainment at The Wall Street Journal, where he wrote about Disney, Netflix, Warner Bros. and the creator economy while focusing primarily on technological disruption across media. Previous to that he covered corporate, economic and political news in Brazil while at Bloomberg. RT has interviewed a diverse cast of characters including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers and convicted criminals. Holds a master’s degree in Digital Sociology.