CCData Report: Digital Asset AUM Surges 27% in February 2024 – Blockonomi


One of the most significant drivers of this growth has been the enthusiastic market response to the launch of Bitcoin spot ETFs in the U.S. These ETFs have provided investors with a convenient and regulated way to gain exposure to the world’s largest cryptocurrency, fueling a surge in demand and inflows. By February 26th, inflows into U.S. Spot Bitcoin ETFs had reached a staggering $6.03 billion, showcasing the immense investor interest in this new asset class.

Bitcoin ETF Data

Leading the charge in this ETF surge are industry giants BlackRock and Fidelity. BlackRock’s iShares and Fidelity’s FBTC have emerged as two of the top 10 ETFs by inflows, according to Bloomberg data. Remarkably, these two ETFs have garnered inflows of $6.02 billion and $4.23 billion, respectively, up to February 26th, demonstrating the strong investor confidence and market momentum.

How To Get Free Crypto  

The growth in AUM and trading volumes has been a global phenomenon, with the U.S. solidifying its lead in digital asset management. The country’s AUM increased by 27.7% to $49.1 billion in February, capturing an impressive 74.7% of the global market share. Other countries, such as Canada and Switzerland, also witnessed significant growth, with their AUMs rising to $4.62 billion (up 23.9%) and $4.13 billion (up 42.6%), respectively.

Daily Product Volumes

The surge in interest and adoption of digital assets is not limited to traditional financial hubs. Countries like Sweden, Jersey, Brazil, and even Hong Kong, which saw a remarkable 139% increase in AUM, highlight the expanding global interest in this burgeoning asset class.

The growth in trading volumes further underscores the robust investor engagement in the digital asset sector. Average daily aggregate trading volumes rose by 14.85% to $1.86 billion in February, building upon the momentum from January’s surge. While this increase may seem modest compared to the previous month, it reinforces the consistent upward trend and sustained investor interest in the market.

The impact of ETF trading volumes has been particularly notable in the U.S. market. BlackRock’s iShares ETF led the pack with an impressive trading volume of $7.89 billion, a staggering 569% rise month-over-month. Conversely, Grayscale, a pioneer in the digital asset space, saw a reduction in its trading volumes, which fell 59% to $6.75 billion. Notably, VanEck’s HODL ETF witnessed the highest growth rate in February, with its trading volumes skyrocketing by an astonishing 2000% to reach $584 million.

Coinbase Banner  

The digital asset sector’s remarkable growth in February 2024 can be attributed to a confluence of factors, including the positive momentum of Bitcoin’s price, the growing adoption of Bitcoin spot ETFs in the U.S., and the sustained investor interest in this emerging asset class. As the market continues to evolve and mature, it is likely that we will witness further growth and adoption, solidifying the position of digital assets in the global financial landscape.

Go to Source
Author: Oliver Dale

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

You May Also Like

More From Author

This site uses Akismet to reduce spam. Learn how your comment data is processed.