Bitcoin ETF Inflows Drive Asset Management Firms to $346M Crypto Funds

Several top asset management firms, including 21Shares, CoinShares, Bitwise, Grayscale, and ProShares, have seen significant inflows of crypto funds in the past few weeks, amounting to approximately $346 million. This surge is the largest the market has seen since the 2021 bull run, with nine consecutive weeks of a bull run bringing the Year-to-Date institutional inflows to over $1.5 billion. The recent inflow is believed to be fueled by the anticipation of spot Bitcoin ETF approval from the SEC, according to CoinShares Head of Research James Butterfill. Altcoins like Ethereum, Solana, Polkadot, and Chainlink also saw inflows, while short-sellers continue to capitulate.