The market has made a big shift in the last two weeks, from nearly $500 million going out to $708 million coming in, according to CoinShares.
The digital assets market grew during the week that began on Jan. 29, with global digital assets under management reaching $53 billion. The gains were largely due to investments in Bitcoin (BTC), according to alternative asset manager CoinShares.
Inflow into the digital asset market amounted to $708 million in the week, with $703 million of that amount moving in the United States. This compares with a $499.7 million total outflow during the week of Jan. 22. BTC accounted for 99% of all market inflows during the week of Jan. 29, totaling $703 million, compared to a BTC outflow of $5.3 million.
Inflows into all exchange-traded products came to $8.2 billion, down from $10.6 billion in the previous week. The United States saw the most action, with $721 million coming in. That figure compared favorably with the previous week’s $408.8 million U.S. outflow.
