Crypto Investment Products Surpass $100 Billion in Historic Milestone
Global cryptocurrency investment products' assets under management (AUM) have surpassed $100 billion, a record-breaking financial milestone. Global crypto funds broke the record for annual inflows in 2021 in less than three months into 2024, and this historic accomplishment was disclosed not long after.
Global Crypto AUM Reaches $100 Billion
Among the renowned asset managers whose crypto investment products have contributed to this astounding worldwide AUM statistic, according to CoinShares, are BlackRock, Fidelity, ProShares, and 21Shares. The record inflows in the last few weeks and the rising prices of cryptocurrencies are the reasons for the increase in AUM.
James Butterfill, CoinShares Head of Research, highlighted the significance of this achievement, stating, "Total digital asset exchange-traded products passed the $100 billion mark for the first time ever." This milestone was reached just a day after global crypto funds outpaced the entire 2021's inflow record, with a notable push from the newly introduced spot bitcoin ETFs in the United States.
US Spot Bitcoin ETFs Drive Inflows
The US-based spot bitcoin ETFs have been pivotal, receiving over $2.2 billion in inflows this week alone. Much of this was fueled by BlackRock's IBIT spot bitcoin ETF, which surpassed $15 billion in assets under management (AUM) on March 12th, breaking records with a net inflow of $1 billion.
All US spot bitcoin ETFs' AUM is now close to $61 billion. CoinShares has strengthened its position in the fast expanding digital asset field with its recent purchase of Valkyrie Funds, which includes the BRRR spot bitcoin ETF, as part of its planned push into the US market.
Похожие новости
