BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
FOLLOW
BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
BlockNews

Spot Bitcoin ETFs Fuel $721 Million in US-based Crypto Inflows

by Sham
February 5, 2024
in Crypto
A A
Spot Bitcoin ETFs Fuel $721 Million in US-based Crypto Inflows
1
SHARES
Share on TwitterShare on Reddit
  • Crypto inflows rebounded to $708 million last week, driven by Bitcoin which made up 99% of total inflows. The US was the dominant source of inflows.
  • Bitcoin saw significant inflows of $703 million while other assets like Cardano and XRP saw minor inflows. Short positions in Bitcoin saw outflows despite price rising.
  • As a result of mixed regional flows, crypto ETP Bitcoin holdings dipped slightly to 890,000 BTC from 900,000 BTC the previous week.

Crypto-related investment products saw a bounce back in inflows last week after two consecutive weeks of outflows. The total inflow reached $708 million, bringing the year-to-date total to $1.6 billion. Global assets under management have now risen to $53 billion.

JUST IN: 🇺🇸 U.S. accounted for 99% of global crypto product inflows last week totaling $720 million

Others via Coinshares:

– Switzerland: +$21 million

– Germany: +$3.5 million

– Brazil: +$1.3 million

– Australia: +$900,000

– France: +$100,000

— BlockNews.com (@blocknewsdotcom) February 5, 2024

Bitcoin Dominates Inflows

Bitcoin saw significant inflows of $703 million last week, making up 99% of total inflows. Solana was the second highest with $13 million. Other assets like Cardano, Litecoin, and XRP saw minor inflows.

Short positions in Bitcoin saw outflows of $5.3 million even as Bitcoin’s price rose 3% to over $43,700. Ethereum and Avalanche also saw outflows despite the overall positive trend.

United States Leads Inflows

The US continues to lead inflows thanks to new Bitcoin spot ETFs. The US saw $721 million in inflows last week, contributing to a 4-week net inflow of $1.9 billion.

Total inflows to crypto investment products since January 11 are now at $7.7 billion. However, established products like Grayscale Bitcoin Trust saw $6 billion in outflows.

Other regions like Switzerland, Australia, France, Brazil and Germany saw smaller inflows. But Canada had $31 million in outflows.

Bitcoin Holdings Dip Slightly

As a result of mixed regional flows, crypto ETP Bitcoin holdings dipped slightly to 890,000 BTC from 900,000 BTC the previous week.

Conclusion

In summary, crypto inflows rebounded last week driven by Bitcoin and significant US inflows. But mixed flows in other regions caused a small dip in Bitcoin holdings. The US remains the dominant source of inflows into crypto investment products.

Tags: BitcoinCardanocryptoSolanaSpot bitcoin ETFs
TweetShareShare

DON'T MISS THESE! HOT OFF THE PRESS

$XLM Heating Up: Is a Major Breakout Imminent?
Crypto

$XLM Heating Up: Is a Major Breakout Imminent?

May 8, 2025
$LTC in a Limbo: Is Litecoin Quietly Gearing Up for a Breakout?
Crypto

$LTC in a Limbo: Is Litecoin Quietly Gearing Up for a Breakout?

May 8, 2025
Is $ADA Ready for a Comeback? Key Levels to Watch
Cardano

Is $ADA Ready for a Comeback? Key Levels to Watch

May 8, 2025
$LINK on the Move: Is Chainlink About to Shake Off the Bears?
Chainlink

$LINK on the Move: Is Chainlink About to Shake Off the Bears?

May 8, 2025
Bitcoin Surges Past $98K Despite Fed’s Steady Rate Decision: Here is What You Need to Expect Next
Bitcoin

Bitcoin Surges Past $98K Despite Fed’s Steady Rate Decision: Here is What You Need to Expect Next

May 8, 2025
Arizona Becomes Second State to Create Bitcoin Reserve: Here is What This Means for Investors
Bitcoin

Arizona Becomes Second State to Create Bitcoin Reserve: Here is What This Means for Investors

May 8, 2025
Load More

Related News

$XLM Heating Up: Is a Major Breakout Imminent?

$XLM Heating Up: Is a Major Breakout Imminent?

May 8, 2025
$LTC in a Limbo: Is Litecoin Quietly Gearing Up for a Breakout?

$LTC in a Limbo: Is Litecoin Quietly Gearing Up for a Breakout?

May 8, 2025
Is $ADA Ready for a Comeback? Key Levels to Watch

Is $ADA Ready for a Comeback? Key Levels to Watch

May 8, 2025
$LINK on the Move: Is Chainlink About to Shake Off the Bears?

$LINK on the Move: Is Chainlink About to Shake Off the Bears?

May 8, 2025
Bitcoin Surges Past $98K Despite Fed’s Steady Rate Decision: Here is What You Need to Expect Next

Bitcoin Surges Past $98K Despite Fed’s Steady Rate Decision: Here is What You Need to Expect Next

May 8, 2025
Discord Twitter Youtube TikTok Instagram

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Newsletter
  • Advertise
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano China Coinbase crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX Gary Gensler grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology twitter US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • Home
  • Crypto
  • Memecoins
  • Technology
  • Politics
  • Finance
  • NFT
  • DeFi
  • Opinion

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.