Bitcoin saw a massive inflow of $703 million last week, accounting for 99% of all inflows into digital asset investment products.
Solana came in second with a modest inflow of $13 million, outperforming Ethereum’s $6.4 million inflow.
Spot Bitcoin ETFs Shine in the US
Spot Bitcoin ETFs in the US attracted a significant inflow of $721 million last week.
These new ETFs have averaged $1.9 billion in inflows over the past four weeks, bringing their total inflows to $7.7 billion since launch.
Grayscale’s GBTC has seen outflows of $6 billion, but these outflows have slowed in recent weeks.
Trading Volume Dips
Trading volume in digital asset investment products experienced a decline last week.
ETPs (Exchange Traded Products) trading volumes fell to $8.2 billion from the previous week’s $10.6 billion.
Spot Bitcoin ETFs recorded a daily trading volume below $1 billion for the first time on February 1st and 2nd.
BlackRock and Fidelity Lead the Charge
BlackRock and Fidelity, the top two issuers of Spot Bitcoin ETFs, now hold over 134,358 BTC ($5.7 billion) for their funds.
These funds made it to the top 10 of all ETF inflows in January, indicating strong institutional interest in Bitcoin.
Institutional Adoption on the Rise
The impressive inflows into Spot Bitcoin ETFs and the growing interest from institutional investors suggest that the adoption of Bitcoin and other digital assets is on the rise.
