Investments in Digital Asset Products Continue to Rise
Over the past week, investments in digital asset products have increased by $176 million, marking the 10th consecutive week of continuous inflows. The total inflow during this period has reached $1.76 billion, which accounts for 4% of the assets under management (AuM).
This streak of inflows is the largest since October 2021, when futures-based ETFs were launched in the US.
Ethereum Sees Positive Sentiment Shift
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Despite a 107% increase in total AuM this year, reaching $46.2 billion, it still falls significantly below the peak of $86.6 billion in 2021. According to CoinShares’ latest report, trading volumes for exchange-traded products (ETPs) remained high at $2.6 billion for the week, representing 12% of total Bitcoin volumes.
While Bitcoin has been the main beneficiary, Ethereum has also attracted significant inflows over the past five weeks, totaling $134 million. This marks a shift from an extended period of negative sentiment, with net flows turning positive at $10 million for the first time this year.
Last week, Bitcoin recorded inflows of $133 million, while short-bitcoin saw inflows of $3.6 million after three consecutive weeks of outflows. Other altcoins such as Solana, XRP, and Cardano also experienced inflows during this period.
Global Focus on Digital Assets
The primary focus in terms of geographical distribution was on Canada, Germany, and the US, with inflows of $79 million, $57 million, and $54 million respectively. However, Hong Kong observed minor outflows of $15 million.
The report also noted that equities related to blockchain technology have seen inflows for seven consecutive weeks, with the most recent inflow of $17.4 million being the highest since July 2022.
Hot Take: Investments in Digital Asset Products Continue to Soar
The past week has seen a significant increase in investments in digital asset products, with a total inflow of $176 million. This marks the 10th consecutive week of continuous inflows and brings the total inflow over this period to $1.76 billion. The surge in investments is the largest since October 2021, reflecting growing interest in digital assets.
