Digital Asset Funds Record $261 Million in Inflows, Marking Gains for the Sixth Consecutive Week

Digital Asset Funds Record $261 Million in Inflows, Marking Gains for the Sixth Consecutive Week Digital asset funds have experienced inflows of $261 million, marking their sixth consecutive week of gains. Investors are increasingly optimistic about the cryptocurrency market, particularly in anticipation of a spot Bitcoin Exchange Traded Fund (ETF). This six-week period of inflows, totaling $767 million, is the highest recorded this year, surpassing the growth seen in July. In 2021, only $736 million was pulled in, which was considered low due to market collapses and wider macroeconomic factors. Bitcoin remains the dominant asset, attracting $229 million in inflows last week, while short-bitcoin received $4.5 million. The recent surge in BTC is attributed to the potential approval of a spot BTC ETF by the Securities and Exchange Commission (SEC), as recent developments suggest a shift in the regulator's stance. Ethereum, Chainlink, and Solana also experienced positive inflows. Solana gained $11 million, Chainlink gained $2 million, and Ethereum received $17.5 million, reclaiming its position as the leading altcoin. US investors contributed the most with $157 million, while Europe, specifically Germany and Switzerland, recorded $63 million and $36 million respectively. Canada received $9 million in inflows as the country works on regulatory clarity. The approval of a spot ETF in the US has boosted investor confidence and attracted more inflows.