Crypto funds in Brazil show consistent inflows amid global boom
Crypto funds in Brazil show consistent inflows
Brazilian cryptocurrency investment funds recorded inflows of R$ 25.4 million last week.
Despite being lower than the previous week’s R$ 133 million, the consistent inflows reflect Brazil’s increasing engagement with digital assets, which have accumulated R$ 173.2 million in 2024 alone, according to Portal do Bitcoin.
Globally, cryptocurrency investment products saw a record $2.2 billion in inflows last week, marking the highest weekly figure this year. The surge in global interest brought the year-to-date (YTD) total to $2.7 billion and pushed total assets under management (AuM) to an unprecedented $171 billion.
Brazil’s Role in a Booming Global Market
While the United States dominated the global landscape with $2 billion in inflows, Brazil’s contribution reinforces its position as a growing player in the cryptocurrency space.
Analysts attribute the global surge to excitement over former U.S. President Donald Trump’s unexpected announcement of an official memecoin, which has fueled speculation about potential pro-crypto policies.
Bitcoin was the standout performer, reaching an all-time high of $108,786 and leading investment inflows with $1.9 billion globally. Ethereum, which has struggled with outflows this year, saw $246 million in inflows last week, signaling a potential turnaround.
In Brazil, these trends align with a steady appetite for digital asset products, reflecting increasing confidence in the sector.
As the global cryptocurrency market continues to break records, Brazil’s contribution highlights the country’s growing significance in a rapidly evolving financial landscape. With steady inflows and growing investor interest, Brazil’s crypto market appears poised for sustained growth in 2024.
Brazil has solidified its status as a global leader in crypto, with 26 million citizens—12% of the population—owning digital assets. This ranks the country sixth worldwide in crypto adoption, highlighting its growing impact in the sector.
