Capital flowed back into crypto investment vehicles last week, making up for much of the previous week's outflows.
Cumulatively, crypto-based investment vehicles rebounded significantly last week by registering $862 million in net inflows, according to CoinShares analyst James Butterfill, who posted the data on X.
The previous week, funds managed by asset managers such as BlackRock, Fidelity and Grayscale reported record outflows of $942 million, CoinShares said at the time. With last week's boost in net inflows and bitcoin's price climbing above $70,000 for much of last week, the combined assets under management for all the crypto funds tracked by CoinShares hit $97.9 billion.Capital pouring into bitcoin-related funds continues to make up for the lion's share of activity. BlackRock and Fidelity's spot bitcoin ETFs each registered more than $600 million of inflows last week, according to CoinShares.
The Ark Invest 21 Shares spot bitcoin had an exceptional week, registering more than $300 million in net inflows. The previous week, the fund — which now has over $3 billion in assets under management — brought in a mere $30 million of capital inflow. Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space.
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