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Digital Asset Products Record $103 Million Inflows as Assets Under Management Maintains $52 Billion Position
Digital asset products have recorded inflows of over $103 million in the last 24 hours, according to data from CoinMarketCap. The inflows bring the total assets under management for digital asset products to over $52 billion, a new all-time high.
The majority of the $103 million inflows came from exchange-traded funds (ETFs), which saw $60 million in new investment. Bitcoin ETFs alone accounted for $50 million of that total, with the Grayscale Bitcoin Trust (GBTC) continuing to lead the way with more than $38 million in new investments. Other top ETFs included the VanEck SolidX Bitcoin ETF ($6.9 million) and the Purpose Bitcoin ETF ($4.1 million).
Meanwhile, digital asset products such as cryptocurrency-denominated hedge funds, venture funds, and indexes also saw notable activity. Crypto hedge funds and venture funds recorded a combined $19 million in new investment, while crypto indexes saw an increase of more than $24 million.
The surge in inflows has helped lift digital asset products to a new all-time high of $52.2 billion in Assets Under Management (AUM). This is up from just over $37 billion at the start of 2021 and more than double the AUM reported in April of last year.
The growth in inflows, combined with rising crypto prices over the past few months, underscores the increasing demand for digital asset products and the continued interest in cryptocurrencies. With more and more institutional investors entering the space, this trend is likely to continue, particularly if more significant regulation is implemented.