The inflows have kept coming—albeit not at the eye-popping pace of the previous week. While there has been a slowdown from the record $2.45 billion logged earlier this month, a substantial sum of cash was again plugged into crypto funds last week, explains a new report.

Digital asset manager CoinShares said Monday that $598 million hit funds giving investors exposure to virtual coins and tokens last week. 

Most of that cash hit the red-hot spot Bitcoin exchange-traded funds (ETFs)—specifically, BlackRock’s iShares ETF and Fidelity’s Wise Origin Bitcoin Trust, the report showed. 

The Securities and Exchange Commission on January 10 approved 10 spot Bitcoin ETFs. Nine are now trading and have been very successful, with the interest in the derivative products pushing the price of actual Bitcoin

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Author: Mathew Di Salvo

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