Digital Asset Funds Experience Fourth Consecutive Week of Inflows, Reaching New All-Time High

CoinShares reports that digital asset investment products saw a fourth consecutive week of inflows last week, totaling $882 million. This brings the year-to-date total to $6.7 billion. While previous weeks saw outflows from notable firms like Grayscale and Bitwise, overall trends indicate rising investor interest. 2024 has seen increased capital flowing into the digital asset market, with Blackrock’s iShares ETF contributing a significant portion of inflows. Factors driving this rise include an expanding M2 money supply, stagnant US inflation risks, and increased acceptance of Bitcoin as strategic reserve assets in several U.S. states.