Digital Asset Fund Flows Hit $3.7B Last Week, 2nd-Highest on Record: CoinShares

Digital asset funds saw $3.7 billion of inflows last week, the second-largest figure on record, according to data tracked by crypto asset manager CoinShares. The flows are surpassed only by those in the week ended Dec. 6 last year, when they topped $4 billion, the Jersey-based company said in its weekly roundup on Monday. The 13th consecutive week of gains by crypto investment products took total asset under management (AUM) past $200 billion for the first time, reaching $211 billion. U.S.-listed products dominated the inflows with nearly $3.74 billion registered, while products in Germany and Sweden saw outflows of $85.7 million and $15.7 million respectively. Bitcoin products accounted for $2.7 billion of the inflows taking the total AUM to $179.5 billion, which is equal to 54% of the AUM held in gold exchange-traded products (ETPs), CoinShares said. The week ended July 11 saw a kickstart to the crypto bull market, with bitcoin gaining nearly 10% to clock an all-time high of around $118,000. This has continued into the current week, with BTC climbing as high as $122,873.45, according to CoinDesk data .

Source: CoinDesk