Global Assets under Management (AUM) in Cryptocurrency Investment Products Surpass $100 Billion:
According to recent data from the leading digital asset investment firm, CoinShares, global assets under management (AUM) in cryptocurrency investment products have surpassed the $100 billion mark. This significant achievement is a result of robust inflows into crypto funds and impressive gains in the cryptocurrency market, which have propelled the AUM to an unprecedented level.
Historic Milestone in Digital Asset ETPs
CoinShares’ Head of Research, James Butterfill, reported that total assets in digital asset exchange-traded products (ETPs) have exceeded $100 billion for the first time. This milestone was reached shortly after global crypto funds broke their annual inflow record, set in 2021, less than three months into 2024.
Unprecedented Inflows to Crypto Funds
The impressive increase in AUM is primarily attributed to the influx of investments into new spot bitcoin ETFs in the United States. These funds have attracted over $2.2 billion in weekly inflows, with BlackRock’s IBIT spot bitcoin ETF alone recording a daily record inflow of $849 million. The surge in investments has significantly boosted the combined AUM of U.S. spot bitcoin ETFs, which now stands at around $61 billion.
Record-Breaking Inflows into Digital Assets ETFs/ETPs
The year 2024 has witnessed a remarkable rise in inflows to digital assets ETFs/ETPs, surpassing the previous record set in 2021. Year-to-date inflows have reached $12 billion, a substantial increase from the $10.6 billion recorded in the entirety of 2021. The new U.S. spot bitcoin ETFs have been instrumental in driving this growth, with BlackRock’s IBIT ETF making substantial contributions.
CoinShares Expands into the U.S. Market
Earlier this week, CoinShares completed its acquisition of Valkyrie Funds, including the BRRR spot bitcoin ETF. This strategic move marks CoinShares’ expansion into the U.S. market, signaling a broader adoption of crypto investment vehicles by traditional asset managers. The U.S. spot bitcoin ETFs now hold a considerable portion of the global crypto AUM, underscoring the increasing interest and confidence of investors in the cryptocurrency sector.
