Crypto Investments Rally in Early 2024, with $151 Million Global Inflows

By: Eliza Bennet

The start of 2024 has witnessed a dramatic increase in global digital asset investment products, with inflows reaching $151 million in the first week alone. The statistics, shared by expert analyst James Butterfill, denote a robust growth in investor confidence, despite the on-going Grayscale vs SEC lawsuit.

A substantial inflow of investments reached a striking total of $2.3 billion, constituting approximately 4.4% of the total Assets under Management (AuM). Bitcoin emerged as the primary choice for investors, claiming a majority of the inflows with $113 million, while Ethereum followed with an impressive $30 million inflow.

The United States proved to be the leading contributor with 55% ($84 million) of the total inflows, while Germany and Switzerland took the second and third spots, contributing 21% and 17% respectively. Other crypto assets like Cardano, Avalanche, and Litecoin also witnessed dividends, with Cardano alone seeing $3.7 million, indicating a promising start to the year for the digital asset sector.

However, bitcoin experienced a net outflow of $32.8 million in the recent past, but the current inflow of $113 million indicates a hopeful comeback. Amidst this, the price of bitcoin has increased by 5.2% over the past week and continues on an upward trend.