Digital asset investment products just pulled in nearly $860 million in a single week, extending a six-week streak of inflows as momentum builds around the U.S.
Digital Asset Market Clarity Act
Inflows hit $857.9 million last week, the largest since late April, pushing total assets under management to $160 billion, according to CoinShares’ Monday report. Bitcoin led inflows with $706.1 million, bringing its YTD total to $4.9 billion, while altcoins also gained traction, with Ethereum attracting $77.1 million, with $47.6 million, and $39.6 million. Meanwhile, short-Bitcoin products recorded $14.4 million in outflows, the largest this year, suggesting investors are unwinding bearish hedges as confidence builds.
The surge came as Bitcoin briefly climbed above $80,000 mid-week, supported in part by improving sentiment tied to the CLARITY Act’s progress through Congress. The world’s largest crypto briefly topped $82,000 over the weekend before pulling back to the $81,000 range, according to CoinGecko data. CLARITY Act influence The CLARITY Act moves to a key Senate markup this Thursday, with a June floor vote planned and the White House targeting July 4 passage. “The Clarity Act has been the major driver for the inflows — it’s something both the crypto industry and institutions have been waiting for since last year,” Nic Puckrin, co-founder of Coin Bureau, told Decrypt.