Cryptocurrencies attracted $10.3B this year, nearing 2021's $10.6B influx.

Sona59

According to data from the cryptocurrency research firm CoinShares International, investor interest is driving billions of dollars into crypto assets this year. It's reported that a record $2.7 billion flowed into crypto assets last week, with most of the funds flowing into Bitcoin. Earlier on Monday, Bitcoin broke $72,000 for the first time, hitting a new all-time high, and has been rising for six consecutive days.

A series of bullish factors have contributed to the surge in fund inflows, including the approval of a spot Bitcoin ETF by the U.S. Securities and Exchange Commission (SEC) in January and the upcoming "halving" event scheduled for April. James Butterfill, Research Director at CoinShares International, noted that approximately $10.3 billion has flowed into crypto assets so far this year, nearing the $10.6 billion inflow for the entire year of 2021, during which Bitcoin hit its previous record high of nearly $69,000.

Spot Bitcoin ETFs launched by institutions such as BlackRock and Fidelity Investments attracted most of the inflows into crypto assets in 2024, helping offset the massive outflows from Grayscale Investments' Bitcoin ETF, which converted from a trust in January.

However, as Bitcoin continues to hit new highs, some investors appear to be hedging against the risk of its pullback. James Butterfill said, "Despite the rise in the price of Bitcoin, funds shorting Bitcoin continue to increase." He pointed out that there was an additional $11 million in Bitcoin short positions added last week.

Kamal531

I didn't expect it to have attracted so much money already.

Kahn332

Once again, there has been a significant increase in this.