Institutional investors channeled $2.7 billion into digital asset products last week, contributing to a total inflow of $17.8 billion during the first half of 2024. This substantial capital movement highlights accelerating institutional adoption of cryptocurrency assets.
Bitcoin dominated investment flows with $2.224 billion in weekly inflows, primarily driven by sustained demand for spot Bitcoin exchange-traded funds (ETFs) launched in the United States. The accessibility of these regulated products continues to attract significant institutional capital.
Ethereum recorded notable inflows of $429.1 million, bolstered by its foundational role in decentralized finance (DeFi), non-fungible tokens (NFTs), and decentralized applications (DApps). The network’s transition to Proof-of-Stake consensus has further strengthened institutional confidence in its long-term viability.
MicroStrategy’s acquisition of 4,980 Bitcoins worth $531.9 million exemplifies the deepening institutional commitment. These investments collectively signal growing acceptance of cryptocurrencies within traditional finance frameworks and reflect heightened confidence in digital assets’ ecosystem maturity.