Crypto Funds Hit $3.3B Weekly Inflows in 2024 Surge
Digital asset funds hit $3.3B in weekly inflows, led by Bitcoin. 2024 total now stands at a record $10.8B.
- Weekly crypto fund inflows reached $3.3 billion.
- Bitcoin led with $2.9B; Ethereum followed with $326M.
- XRP saw outflows, ending an 80-week inflow streak.
Crypto funds are having a blockbuster year, with a staggering $3.3 billion pouring in over just one week. This brings the total inflows for 2024 to a record-breaking $10.8 billion, signaling renewed investor confidence and rising institutional interest.
Unsurprisingly, Bitcoin dominated the charts, attracting $2.9 billion in weekly inflows alone. The world’s largest cryptocurrency continues to be the go-to asset for institutions, thanks to growing ETF exposure and its perceived store-of-value status. This bullish activity reflects broader optimism in the digital asset market and strengthens Bitcoin’s position as the industry’s bellwether.
Ethereum Grows, XRP Falters
Ethereum also saw a significant boost, drawing in $326 million in new capital. Investors appear increasingly confident in Ethereum’s long-term scalability and its role in DeFi and NFT ecosystems. The steady rise in ETH inflows suggests it remains the second favorite among institutional players.
In contrast, XRP faced a setback. After enjoying 80 consecutive weeks of inflows, the token saw $37.2 million in outflows. This marks a significant shift, possibly tied to recent legal uncertainties or shifting investor sentiment. While not catastrophic, this reversal might point to caution among XRP holders.
2024: A Milestone Year for Digital Assets
With $10.8 billion already recorded in inflows, 2024 is shaping up to be a historic year for digital assets. The inflow momentum reflects growing trust in the market’s maturity and resilience. If this pace continues, we may see new highs in fund allocation and broader adoption across traditional finance.
As Bitcoin ETFs continue to draw attention and Ethereum upgrades gain traction, crypto funds seem well-positioned for continued growth. However, tokens like XRP remind us that not all assets move in the same direction—making asset selection more critical than ever.
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