A wave of investor interest is driving billions of dollars into cryptocurrency assets this year, pushing inflows to record-breaking levels, according to CoinShares International Ltd., Bloomberg News reported. A record $2.7 billion flowed into crypto assets last week, according to a Monday report from the digital asset manager and crypto research firm. The bulk of the flows went toward Bitcoin, reads the report. Earlier on Monday, Bitcoin topped $72,000 for the first time ever, and has now notched six straight days of gains. A combination of bullish events is helping drive the surge in inflows. These include the U.S. Securities and Exchange Commission’s approval of spot Bitcoin exchange-traded funds in January and the upcoming halving event in April, which will cut the supply of new Bitcoin in half. Since the start of this year, about $10.3 billion has flowed into crypto assets, close to the $10.6 billion of inflows recorded by the market over the entire course of 2021, according to the report by CoinShares’ head of research, James Butterfill. That was also the year Bitcoin hit its last all-time high near $69,000.
