Bitcoin-led investments into cryptocurrencies hit record $1.5 billion on the back of first Bitcoin ETF

Investments into crypto funds and assets continue to roll with even more impressive strides as investors put a record $1.47 billion into digital asset investment products last week. Moreover, the total crypto assets under management (AUM) also reached a new record of $79.2 billion during the week before closing the weekend at $76.7 billion, according to the data shared in the digital asset management firm CoinShares’ weekly report on digital asset fund flows. The surge in investments and AUM, as per the report, has been on the back of all-time high growth witnessed in Bitcoin prices and the US Securities & Exchange Commission (SEC) allowing a Bitcoin Exchange Traded Fund (ETF) and the following consequent listing of two Bitcoin investment products with inflows worth $1.24 billion.

“The crypto community was longing for a regulatory acceptance to crypto-tied financial services. With U.S. SEC approving bitcoin ETFs, this is huge and a step in the right direction. This will elevate the scope of cryptocurrencies in mainstream financial services that were previously confined to buying/selling only. There’s a rally of cryptocurrencies following up. Wait & watch,” Vikram R Singh, Founder, Antier Solutions told Financial Express Online.