All articles tagged with #crypto funds
Morgan Stanley is enabling its wealth management clients to invest in cryptocurrency funds, marking a significant step in integrating digital assets into mainstream financial services.
Investors pulled nearly $1 billion from crypto investment products last week due to hesitancy, with Bitcoin's price dip leading to record net outflows of $942 million. Most of the focus was on Bitcoin, with significant outflows from Grayscale's newly converted ETF, as well as other Bitcoin ETFs. Additionally, crypto funds in Europe giving exposure to altcoins also experienced significant outflows. Despite the recent outflows, Bitcoin's price currently stands at $70,644, up 7.5% in the past 24 hours but still below the new all-time high of $73,737 it touched earlier this month.
Bitcoin's price surge is attributed to the influx of cash into investment products providing exposure to the asset, resulting in a record-breaking week for crypto funds with $2.7 billion flowing in, primarily focused on BTC. The majority of the cash is directed towards new spot BTC exchange-traded funds, following the SEC's approval in January. Investors are also showing interest in altcoins like Solana, with its funds receiving $24 million, while BTC's price has soared to new highs, currently trading at $72,362.
Crypto investment products have seen a surge in investor interest, with over $500 million in inflows over the past week, bringing the year-to-date inflows to $5.7 billion. The influx has been primarily driven by the introduction of new spot Bitcoin exchange-traded funds (ETFs) in the United States, accounting for 55% of the record inflows witnessed throughout 2021. US-based funds led the way with the largest inflows, while Bitcoin-based funds dominated the inflows, attracting $570 million in investments. Despite the positive momentum, certain assets faced challenges, with Solana investment products seeing outflows for the second consecutive week. However, the overall trajectory of the global cryptocurrency market has been largely positive, with the total market capitalization of crypto assets surpassing the $2 trillion mark.
Demand for spot Bitcoin exchange-traded funds (ETFs) has driven a record week for crypto funds, with investors pouring $2.45 billion into such funds, bringing total assets under management to $67 billion. The approval of spot Bitcoin ETFs by the Securities and Exchange Commission has allowed traditional investors to safely and regulatedly access cryptocurrencies, leading to significant inflows into these funds. Most of the investment has been focused on Bitcoin, with the largest digital coin's price standing at $51,800.
Following the launch of spot Bitcoin exchange-traded funds (ETFs), high-profile crypto funds such as Grayscale, CoinShares, and 21Shares have experienced significant outflows totaling $2.9 billion, while newly issued Bitcoin ETFs have seen inflows of $4.13 billion. Investors are shifting their money into the new Bitcoin ETFs, with BlackRock’s iShares Bitcoin Trust emerging as the best-performing ETF. Additionally, Grayscale’s Bitcoin Trust has seen over $2.2 billion in outflows since its conversion to an ETF, as investors are now able to redeem their shares.
Crypto investment funds experienced the largest weekly inflow in 15 months, with $326 million pouring in, driven by optimism surrounding the potential approval of a spot bitcoin exchange-traded fund (ETF) by the SEC. Bitcoin funds accounted for 90% of the inflows, including investments in short-bitcoin funds, indicating hedging strategies. Solana saw the largest net inflows among altcoins, while funds holding ether continued to experience outflows.