BRICS countries plan to create an independent digital payment platform
According to Bitcoin.com News, a Russian official revealed that the BRICS countries are discussing the creation of an independent digital payment platform.
CoinShares: Digital asset fund net inflows top $10 billion year-to-date
James Butterfill, research director at CoinShares, said that the net inflow of digital asset funds this year has exceeded $10 billion, approaching the $10.6 billion mark in 2021.
CoinShares: Digital asset investment product inflows totaled $1.84 billion last week
According to CoinShares' weekly report, the total inflow of digital asset investment products last week reached $1.84 billion, ranking second in history and continuing to flow for the fifth consecutive week. The trading volume of investment products last week set a record of over $30 billion. 94% of the funds flowed into Bitcoin, with a total of $1.73 billion.
Nearly 700,000 Alabama adults own digital assets
According to data from Morning Consult, nearly 700,000 adult residents of Alabama (18%) own digital assets. A new poll shows that cryptocurrency voters in Alabama represent a diverse and younger demographic than the general population, with representation from both parties. 38% identify as Democrats, 38% as Republicans, and 20% as Independents. Over one-third of them are between the ages of 18 and 34.
The total inflow of digital asset investment products last week reached US$598 million, and investors’ wait-and-see sentiment was obvious
According to CoinShares' weekly report on February 27th, the total inflow of digital asset investment products last week reached $598 million, marking the fourth consecutive week of inflow. The total funds inflow since the beginning of the year has now exceeded $5.7 billion, accounting for 55% of the record inflow in 2021. Bitcoin saw an inflow of $570 million last week, bringing the total inflow since the beginning of the year to $5.6 billion. Ethereum saw an inflow of $17 million last week, while Chainlink and XRP saw inflows of $1.8 million and $1.1 million respectively. Last week, blockchain stocks continued to see a total outflow of $81 million, indicating that stock investors are currently somewhat cautious.
CoinShares: Digital asset investment products saw $2.45 billion in inflows last week
According to a report from CoinShares, the weekly inflow of digital asset investment products reached a historic high last week, totaling $2.45 billion. The total inflow for this year has reached $5.2 billion, bringing the total assets under management (AuM) to $67 billion, the highest level since December 2021.
Deus X and Bridgetower launch US$250 million digital asset joint venture 'Bridgetower Middle East'
Private equity firms Deus X Capital and Bridgetower Capital will launch a $250 million cryptocurrency infrastructure platform. The new entity, Bridgetower Middle East, will be located in the Abu Dhabi Global Market Free Zone in the United Arab Emirates (UAE), led by Deus X and Bridgetower's respective CEOs Tim Grant and Cory Pugh. It will host institutional pledge nodes in the region and provide advanced data center capabilities, AI GPU, Web3 business, and private equity incubation services, aiming to meet the Middle East's demand for bundled pledges and AI graphics processing unit (GPU) computing.
Crypto payments platform Bakkt warns it may not be able to continue business over next 12 months
Bakkt, a platform for crypto payments and digital assets, has filed an amendment to its quarterly report to the Securities and Exchange Commission warning that it may not be able to continue its business over the next 12 months due to changing risk factors in the crypto industry. The company has been experiencing struggles with its crypto business and is seeking ways to raise capital. Bakkt has determined that its future success will depend on its ability to raise capital and is evaluating financing alternatives to meet its cash requirements. Following its SEC filing, Bakkt's stock dropped 7.6% on Wednesday, trading after-hours at $1.34.
Volume 168: Digital Asset Fund Flows Weekly Report
US$708m inflows last week, outflows from Grayscale abating
Digital asset investment products saw large inflows totalling US$708m last week, bringing year-to-date inflows to US$1.6bn and total global assets under management to US$53bn. Trading volumes in ETPs fell to US$8.2bn compared to the prior week total of US$10.6bn, although remain well above the US$1.5bn week average in 2023. These volumes comprise 29% of Bitcoin’s total trading on trusted exchanges.
CoinShares: Digital asset investment products had an inflow of $708 million last week
According to the CoinShares weekly report, the total inflow of funds for digital asset investment products reached $708 million last week, bringing the total inflow of funds since the beginning of the year to $1.6 billion and the total global managed assets to $53 billion. The trading volume of ETPs decreased from $10.6 billion the previous week to $8.2 billion, but still far exceeded the weekly average of $1.5 billion in 2023. These trading volumes accounted for 29% of the total Bitcoin trading volume on credible exchanges. Last week, the total inflow of Bitcoin was $703 million, accounting for 99% of the total inflow. Funds shorting Bitcoin flowed out slightly, with a total of $5.3 million. Solana had an inflow of $13 million last week, surpassing Ethereum and Avalanche, which had outflows of $6.4 million and $1.3 million respectively last week.
