Spot bitcoin ETFs saw $1.1 billion of inflows last week, CoinShares says

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Spot bit­coin exchange-trad­ed prod­ucts launched in Jan­u­ary led cryp­to invest­ment prod­ucts with the largest inflows last week, cryp­to asset man­ag­er Coin­Shares said in a report on Monday.

Bit­coin ETFs saw $1.1 bil­lion of inflows last week for a cumu­la­tive total of $2.8 bil­lion since their launch on Jan. 11, Coin­Shares said. That’s the high­est week­ly inflow lev­el since the incep­tion of bit­coin spot ETFs, accord­ing to The Block’s data. 

Since Jan­u­ary, the new ETFs have col­lec­tive­ly amassed over 192,000 BTC in their custody.

Black­Rock and Fideli­ty have been lead­ing the pack with $693.6 mil­lion and $522.6 mil­lion of inflows last week, respec­tive­ly, accord­ing to Coin­Shares. Bit­coin-relat­ed prod­ucts received the vast major­i­ty of inflows, with Ethereum and Car­dano trail­ing behind in sec­ond and third place.

Assets under management 

Prod­ucts allow­ing traders to short bit­coin, on the con­trary, saw minor out­flows of $0.4 mil­lion last week.

Total assets under man­age­ment for cryp­to invest­ment prod­ucts reached the high­est point since ear­ly 2022 at $59 bil­lion, accord­ing to Coin­Shares’ data. 

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. Cryp­to exchange Bit­get is an anchor LP for Fore­sight Ven­tures. The Block con­tin­ues to oper­ate inde­pen­dent­ly to deliv­er objec­tive, impact­ful, and time­ly infor­ma­tion about the cryp­to indus­try. Here are our cur­rent finan­cial dis­clo­sures.

© 2023 The Block. All Rights Reserved. This arti­cle is pro­vid­ed for infor­ma­tion­al pur­pos­es only. It is not offered or intend­ed to be used as legal, tax, invest­ment, finan­cial, or oth­er advice.

About Author

Anna is a senior pol­i­cy reporter at The Block. She has a back­ground in polit­i­cal jour­nal­ism and cov­ered Russ­ian civ­il soci­ety for a range of news out­lets in Moscow, includ­ing the award-win­ning news­pa­per Novaya Gaze­ta. Before join­ing The Block, Anna spent the past five years inves­ti­gat­ing cryp­tocur­ren­cy poli­cies and adop­tion around the world at Coin­Desk. Anna owns bit­coin and a gift NFT of sen­ti­men­tal value.

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