NEW YORK, February 12, 2024 — In a recent report released on Monday, crypto asset manager CoinShares highlighted that spot Bitcoin exchange-traded products (ETPs), which launched in January, led all crypto investment products in inflows last week. According to CoinShares, these Bitcoin ETFs saw an impressive $1.1 billion in new inflows over the past week, bringing their cumulative total to $2.8 billion since their debut on January 11. This marks the highest weekly inflow recorded for Bitcoin spot ETFs since their introduction, as reported by The Block.

Since their launch earlier this year, the newly approved Bitcoin ETFs have collectively accumulated over 192,000 BTC, reflecting strong investor interest and confidence in these financial products. The significant inflow of $1.1 billion last week underscores the growing appeal of Bitcoin ETFs as a preferred investment vehicle for exposure to cryptocurrency markets.

Among the leading firms in this surge, BlackRock and Fidelity stand out with substantial contributions to the inflow figures. BlackRock’s Bitcoin ETF led the charge with $693.6 million in inflows, while Fidelity’s ETF followed closely with $522.6 million. These figures illustrate the dominant position of these asset managers in the rapidly evolving cryptocurrency investment landscape.

In addition to Bitcoin, which garnered the majority of the inflows, other crypto assets such as Ethereum and Cardano also saw investment, though to a lesser extent. Ethereum and Cardano ranked second and third, respectively, in terms of inflow volume. This distribution highlights a trend where Bitcoin continues to attract the largest share of investment, while other cryptocurrencies maintain a smaller but still significant presence in the market.