Summary: Digital Assets Investment Products Inflows Reaches All-Time High
With the broader market resurgence, digital assets investment products also maintained their upward trend, reaching $646 million in inflows last week. Year-to-date inflows have peaked at an all-time high of $13.8 billion, surpassing 2021 numbers significantly.
The Slowdown in ETF Hype
Following a strong rebound in digital asset investments towards the end of March and with the anticipation of the BTC halving, investor sentiment improved alongside Bitcoin’s recovery above $72,000.
- The fervor around spot Bitcoin ETFs seems to be diminishing.
- CoinShares’ Digital Asset Fund Flows indicated a decline in weekly flow levels compared to early March.
- Trading volumes decreased to $17.4 billion from $43 billion in the first week of March.
“Despite this, there are signs that appetite from ETF investors is moderating, not achieving the weekly flow levels seen in early March.”
The United States, Brazil, Hong Kong, and Germany saw inflows, while Switzerland and Canada saw outflows.
Bearish Investors React
Bitcoin attracted $663 million in inflows over the past week, while short-bitcoin products faced outflows, suggesting a “minor capitulation” among bearish investors. Ethereum saw outflows for the fourth week, unlike other altcoins.
- Litecoin, Solana, and Filecoin observed significant inflows.
- Polkadot, Cardano, and XRP noted minor inflows.
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