Bitcoin accounted for over 96% of the total amount of funds

Weekly inflows into crypto derivatives hit a record at $2,7 billion

11.03.2024 - 14:15

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2 min

What’s new? Digital asset-based investment products saw record weekly fund inflows of $2,7 billion, CoinShares analysts said in a new report. That brings the YTD figure to $10,3 billion, only slightly less than the all-time high of $10,6 billion for all of 2021. Weekly trading reached $43 billion, also breaking last week’s record ($30 billion). The growth in the crypto market saw total assets under management (AuM) of cryptocurrency investment firms increase 14% week-over-week and 88% YTD, also peaking at $94,4 billion.

CoinShares’ report

What else is known? Regionally, the largest inflow of funds from March 4 to March 8 was recorded in the United States with $2,8 billion. Switzerland and Brazil followed with $21 million and $18 million, respectively. At the same time, traders in Germany, Sweden, and Canada are locking in profits, resulting in outflows of $77 million, $39 million, and $35 million in those countries, respectively.

Bitcoin continues to be the focus of investors’ attention, with its share of total funds exceeding 96% ($2,6 billion) for the week. Inflows into products based on the asset have reached 14% of crypto investment companies’ AuM since the beginning of the year. Despite the rapid rate hike and the renewal of the all-time high above $70 000, short positions also recorded $11 million in inflows.

Daily trading volume for ten spot BTC ETFs hit a record above $10 billion

Daily trading volume for ten spot BTC ETFs hit a record above $10 billion

This may indicate the traders’ desire to fix profits on the background of the growth of the asset rate

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Products based on the native token of the Solana (SOL) blockchain that previously faced a surge of negative sentiment and outflows, ended last week with a positive result of $24 million. Conversely, Ethereum, which has improved significantly year-on-year, recorded an outflow of $2,1 million.

Among other altcoins, Polkadot (DOT), Fantom (FTM), Chainlink (LINK), and Uniswap (UNI) stand out, with derivatives based on these assets receiving $2,7 / $2 / $2 / $2 / $1,6 million respectively.

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