Global Crypto Funds Hit Record $33.5B in 2024 Amid Recent Bitcoin Surge

• According to CoinShares, these funds have now had net inflows for six weeks running.
• The funds’ assets under management have reached a new height of $138 billion.

A new record of $33.5 billion has been reached so far this year by global crypto funds managed by global asset managers. According to CoinShares, these funds have now had net inflows for six weeks running, with an additional $2.19 billion.

The funds’ assets under management have reached a new height of $138 billion. As pointed out by CoinShares Head of Research James Butterfill in a Monday report. This is in addition to the price increase that caused bitcoin to hit fresh all-time highs over $93,000 on Wednesday.

Optimistic Investor Sentiment

According to Butterfill, the current uptick in activity seems to be fueled by a mix of loosened monetary policy. And the Republican party’s resounding victory in the US elections. Net inflows of $3 billion in the first three days were later offset by net withdrawals of $866 million. Marking a week with two halves, according to Butterfill.

Net weekly inflows of $2.21 billion were recorded by U.S-based funds, as is typical; next came $27 million from Hong Kong, $18 million from Australia, and $13 million from Canada in the realm of cryptocurrency investment products. German investors “took profit,” with $6.8 million going out and Swedish investors $58 million, according to Butterfill.

Once again taking the lead among assets, Bitcoin-based products had net inflows of $1.48 billion worldwide last week. The expert did point out that investors added $49 million to short-bitcoin investment vehicles after Wednesday’s record high.

Meanwhile, according to Butterfill, investment products based on Ethereum seem to have broken their “negative funk,” with $646 million in net inflows internationally for the week, accounting for 5% of AUM.

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