The stock market has seen a massive return of institutional money into the digital asset space, signaling a renewed rally for cryptocurrency investors. Last week, digital asset investment products attracted an impressive $1.2 billion in inflows. This marks the fourth consecutive week of gains and pushes the total assets under management across all crypto funds to $155 billion, the highest level since early February.
Leading the charge is Bitcoin (CRYPTO: $BTC), which captured $933 million of these inflows. This surge recently pushed the popular cryptocurrency to highs of more than $79,000, nearing the critical $80,000 threshold. Investors are watching this level closely, as it represents a breakeven point for those who bought earlier in the year during high market volatility. If it rises above that, it may lead to greater bullishness and more of a rally may ensue. On Monday, however, the top cryptocurrency was back to around $77,000. Year to date, Bitcoin is still down around 12%.
Beyond direct cryptocurrency funds, blockchain equity exchange-traded funds (ETFs) are also experiencing explosive growth. These products, which invest in companies handling crypto infrastructure like miners and chip makers, have seen $617 million in inflows over the past three weeks. This trend highlights a growing demand for indirect technology exposure.
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In the past month, the Amplify Block Technology ETF has risen by 18%, outpacing the iShares Bitcoin Trust ETF, which is up by just 12%. As the markets heat up and speculative buying remains high, these funds may continue to be good buys as the year goes on.