NEW YORK, May 18, 2024 — Global assets under management in cryptocurrency exchange-traded products (ETPs) have surpassed the $100 billion milestone for the first time, driven by Bitcoin price increases and continued strong inflows.

Net inflows into the ten US spot Bitcoin ETFs have once again demonstrated robust growth, exceeding $2 billion for the second consecutive week. Last week, these funds collectively attracted a record $2.5 billion, surpassing the previous record of nearly $2.3 billion set between February 12 and February 16, as reported by BitMEX Research. The total inflows for the week of March 4 to March 8 were close to this new record, highlighting the sustained investor interest in Bitcoin ETFs.

On March 12 alone, the US Bitcoin ETFs saw unprecedented daily net inflows of $1 billion. This surge in investment coincided with Bitcoin reaching a new all-time high of over $73,600 early the following day. The iShares Bitcoin Trust (IBIT), managed by BlackRock, captured the majority of these inflows, drawing in $849 million. However, the following day saw a decrease in net inflows, which dropped to about $684 million.

On Thursday and Friday, net inflows into the US spot Bitcoin ETFs amounted to $133 million and $199 million, respectively, according to data from Farside Investors.

Fineqia International research analyst Matteo Greco highlighted in a recent research note that the trading volumes in this segment reached $28 billion last week. This translates to an impressive daily average trading volume of $5.6 billion, significantly surpassing the approximately $3.15 billion daily average seen since the inception of these funds.

Greco emphasized that these figures illustrate the ongoing momentum of investment from traditional financial sectors into digital assets. "These numbers underscore the sustained enthusiasm from traditional finance towards the digital assets market," Greco noted. "Even though Bitcoin's price remained relatively stable last week, the primary source of demand continues to be from ETFs. Meanwhile, investors who are more deeply entrenched in the digital assets space seem to be more active on the selling side."

This continued influx of capital and high trading volumes reflect a growing acceptance and integration of cryptocurrency investments into mainstream financial portfolios, further solidifying the role of Bitcoin ETFs in the evolving landscape of digital asset investment.