Digital Asset Funds' AUM Climbs to New High After Drawing $2.2 Billion in a Week

Digital asset funds had a massive surge last week, drawing $2.2 billion in inflows and pushing total assets under management (AuM) to all-time highs. Last week’s inflows brought the total year-to-date (YTD) inflows to $2.8 billion, according to CoinShares' weekly fund flows report . Bitcoin (BTC) led the way with $1.9 billion in inflows, bringing its YTD total to $2.7 billion. Ethereum (ETH) recorded $246 million in inflows, while XRP brought in around $31 million. There were outflows of $0.5 million from short positions. The report also highlighted that recent price movements in digital assets drove total AuM to a record $171 billion. BTC dominated, accounting for roughly $141 billion, while Ethereum (ETH) contributed about $18 billion. Additionally, trading volumes for exchange-traded products (ETPs) remained robust, reaching $21 billion last week, which represents 34% of BTC trading volumes on exchanges. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io