Spot bitcoin ETFs saw $1.1 billion of inflows last week, CoinShares says

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  • Spot bitcoin ETFs dominated the market of crypto investment products last week with $1.1 billion of inflows and the highest AUM since early 2022, CoinShares said.

Spot bitcoin exchange-traded products launched in January led crypto investment products with the largest inflows last week, crypto asset manager CoinShares said in a report on Monday.

Bitcoin ETFs saw $1.1 billion of inflows last week for a cumulative total of $2.8 billion since their launch on Jan. 11, CoinShares said. That’s the highest weekly inflow level since the inception of bitcoin spot ETFs, according to The Block’s data. 

Since January, the new ETFs have collectively amassed over 192,000 BTC in their custody.

BlackRock and Fidelity have been leading the pack with $693.6 million and $522.6 million of inflows last week, respectively, according to CoinShares. Bitcoin-related products received the vast majority of inflows, with Ethereum and Cardano trailing behind in second and third place.


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Assets under management 

Products allowing traders to short bitcoin, on the contrary, saw minor outflows of $0.4 million last week.

Total assets under management for crypto investment products reached the highest point since early 2022 at $59 billion, according to CoinShares’ data. 

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© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Anna is a senior policy reporter at The Block. She has a background in political journalism and covered Russian civil society for a range of news outlets in Moscow, including the award-winning newspaper Novaya Gazeta. Before joining The Block, Anna spent the past five years investigating cryptocurrency policies and adoption around the world at CoinDesk. Anna owns bitcoin and a gift NFT of sentimental value.


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