Crypto & Blockchain Daily Brief Sunday, August 18, 2024

According to a report by CoinShares, Bitcoin exchange-traded funds (ETFs) have seen inflows of $36 million in the past week, while Ethereum funds experienced outflows of $15 million. The report indicates that Bitcoin continues to be the preferred choice among institutional investors, with BTC investment products accounting for 78% of total digital asset inflows. Despite the recent decline in Ethereum's price, the outflows from Ethereum funds are not seen as a cause for concern, as they are relatively small compared to the overall market size. In contrast, Bitcoin's strong performance has led to increased interest from investors seeking exposure to the digital asset. The report also highlights that overall digital asset investment products have seen inflows of $63 million in the past week, with total assets under management reaching $54 billion. The growing interest in Bitcoin ETFs and digital asset investment products suggests a growing acceptance of cryptocurrencies among institutional investors. As more investors seek exposure to digital assets, the market is expected to continue to grow and evolve.