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Bitcoin Dominates Digital Asset Fund Inflows

The latest data from CoinShares reveals that digital asset investment products have seen a significant surge in inflows, with a total of $1.1 billion entering the market in a week. This substantial increase has pushed the year-to-date inflows to $2.7 billion, resulting in the highest level of total assets under management (AuM) since early 2022, reaching $59 billion.

The primary contributor to this surge in investment activity is the introduction of Spot Bitcoin ETFs in the United States, which alone attracted $1.1 billion in net inflows in the past week. Since their launch on January 11th, these ETFs have accumulated a total of $2.8 billion in inflows, demonstrating a strong demand from traditional financial infrastructure for exposure to Bitcoin. Bitcoin has remained the dominant force in attracting investor funds, capturing nearly 98% of the total inflows.

Despite concerns about potential outflows from existing investment products, the report indicates that the pace of outflows has slowed down. However, the forthcoming sale of Genesis holdings worth $1.6 billion could potentially trigger further outflows in the near future.

Regionally, while outflows from other regions have cooled off, minor outflows were observed from Canada and Germany, amounting to $17 million and $10 million, respectively. In contrast, Switzerland experienced inflows of $35 million last week, highlighting the global interest in digital asset investment products.

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Digital Asset Fund Inflows For Altcoins

The positive momentum in Bitcoin has also had a positive impact on other major cryptocurrencies, such as Ethereum and Cardano. Ethereum saw inflows of $16 million, while Cardano received $6 million in inflows, indicating growing investor confidence in these alternative assets.

In addition, there were minor inflows in other cryptocurrencies such as Avalanche (AVAX) with $0.5 million and Polygon (MATIC) with $0.4 million, respectively. Tron (TRX) also accounted for $0.4 million in inflows. On the contrary, there were minor outflows for Uniswap and Short-Bitcoin, totaling $0.5 million and $0.4 million, respectively.

Meanwhile, blockchain equities saw outflows from one issuer totaling $67 million, while other issuers saw inflows amounting to $19 million. This reflects a mixed sentiment within the blockchain equities market, with some issuers attracting investor interest while others experience divestment.

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