According to data from CoinShares, a cryptocurrency asset management company, digital asset investment products saw a net inflow of $151 million in the first week of 2024. This brings the total net inflow to $2.3 billion since the litigation between Grayscale and the U.S. Securities and Exchange Commission (SEC), accounting for 4.4% of the Assets under Management (AuM).
The net inflow of Bitcoin investment products was the largest, reaching $113 million, accounting for 3.2% of the AuM in the past 9 weeks. On the other hand, short Bitcoin investment products had a total outflow of $1 million in the first week of this year. James Butterfill, the research head of CoinShares, stated that if many people believe that the launch of a U.S. Bitcoin spot ETF is a “buy the rumor, sell the news” event, then “we would certainly expect net inflows into short Bitcoin ETPs.” However, there has been a total net outflow of $7 million in the past 9 weeks.
Ethereum investment products attracted a net inflow of $29 million, with a total net inflow of $215 million in the past 9 weeks, indicating improved market sentiment. On the other hand, Solana did not have a smooth start this year, with a total net outflow of $5.3 million.
In terms of other altcoin investment products, Cardano, Avalanche, and Litecoin saw net inflows of $3.7 million, $2 million, and $1.4 million respectively. Blockchain stocks also had a good start this year, with a net inflow of $24 million last week.
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