---
title: "Cryptocurrencies have already \"attracted\" $10.3 billion this year, approaching the full-year $10.6 billion in 2021. Bitcoin has reached a market value of over $72,000, surpassing silver."
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/109704216.md"
description: "Cryptocurrencies have attracted $10.3 billion in investments this year, close to the $10.6 billion for the entire year of 2021, with Bitcoin's market value surpassing that of silver. According to data from the cryptocurrency research firm CoinShares International, investors' interest has driven tens of billions of dollars into crypto assets, with the majority flowing into Bitcoin. The price of Bitcoin has risen for six consecutive days, breaking through $72,000, with a total market value exceeding $1.4 trillion, ranking it as the eighth largest asset globally. Positive factors include the approval of a Bitcoin spot ETF by the U.S. Securities and Exchange Commission and the upcoming \"halving\" event. Spot Bitcoin ETFs launched by institutions such as BlackRock and Fidelity Investments have attracted a large influx of funds into crypto assets. Short positions on Bitcoin are still increasing, with investors hedging against the risk of a pullback."
datetime: "2024-03-11T23:41:12.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/109704216.md)
  - [en](https://longbridge.com/en/news/109704216.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/109704216.md)
---

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# Cryptocurrencies have already "attracted" $10.3 billion this year, approaching the full-year $10.6 billion in 2021. Bitcoin has reached a market value of over $72,000, surpassing silver.

Zhitong App has learned that according to the data from the cryptocurrency research company CoinShares International, investors' interest is driving billions of dollars into crypto assets this year. It is reported that a record $2.7 billion flowed into crypto assets last week, with most of the funds going into Bitcoin. Earlier on Monday, Bitcoin broke through $72,000 for the first time, hitting a new all-time high and has been rising for six consecutive days.

As of the time of writing, the price of Bitcoin has surpassed $72,000, with a total market value exceeding $1.4 trillion, surpassing silver to become the eighth largest asset in the global market value.

A series of positive factors have contributed to the surge in fund inflows, including the approval of a Bitcoin spot ETF by the U.S. Securities and Exchange Commission (SEC) in January, and the upcoming "halving" event in April. James Butterfill, Director of Research at CoinShares International, pointed out that around $10.3 billion has flowed into crypto assets so far this year, close to the $10.6 billion inflow for the entire year of 2021, when Bitcoin hit its previous record high of nearly $69,000.

![11.png](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20240312/1710199043113834.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg)

Spot Bitcoin ETFs launched by institutions such as BlackRock and Fidelity Investments attracted the majority of the inflows into crypto assets in 2024, helping to offset the massive outflow of funds from Grayscale Investments' Bitcoin ETF, which converted from a trust in January this year.

However, as Bitcoin continues to hit new highs, some investors seem to be hedging against the risk of its pullback. James Butterfill stated, "Despite the rise in Bitcoin price, funds shorting Bitcoin continue to increase." He noted that last week saw an additional $11 million in Bitcoin short positions.

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