Digital Asset Investment Products Experience Surge in Inflows, with GBTC Recording First Weekly Inflows
CryptoNewsTerminal Staff20 May, 2024
Digital Asset Investment Products Experience Surge in Inflows, with GBTC Recording First Weekly Inflows
Digital asset investment products witnessed a significant influx of $932 million in net inflows last week, signaling a continuation in the positive trend observed over the past two weeks. The Americas region led the charge with approximately $1 billion in inflows, while Grayscale's Bitcoin Trust (GBTC) recorded its first weekly inflows of $18 million. BTC products were the primary driver behind the inflows, accounting for $942 million, while ETH products saw outflows totaling $23.3 million. This trend indicates a shift in investor sentiment towards Bitcoin and away from Ethereum. The recent inflows suggest that institutional investors are increasingly recognizing the potential of digital asset investments, and are allocating funds accordingly. GBTC's first weekly inflows since March 2023 further indicate that investors are regaining confidence in the Bitcoin market.
