Record Inflows Boost Digital Asset Investment Products
Amidst a significant market recovery, digital asset investment products have seen a surge in weekly inflows, reaching a record-breaking $2.45 billion. This has contributed to year-to-date inflows totaling an impressive $5.2 billion.
These encouraging numbers, combined with recent favorable price trends, have led to a rise in total assets under management (AuM) to $67 billion, the highest level since December 2021.
Solana Faces Investor Sentiment Takes a Hit
According to CoinShares’ latest edition of Digital Asset Fund Flows Weekly Report, Bitcoin received over 99% of the inflows. Despite this dominance, some investors took the opportunity to increase their short-bitcoin positions, resulting in $5.8 million in inflows over the past week.
Ethereum also experienced positive momentum with $21 million in inflows. However, Solana’s investor sentiment took a hit due to a recent network outage caused by a bug. This affected its performance and led to outflows of $1.6 million for digital asset investments focused on Solana.
Avalanche, Chainlink, and Polygon attracted inflows of $1 million, $0.9 million, and $0.9 million respectively throughout the year. XRP settled with $0.4 million in weekly inflows.
Spot Bitcoin ETFs Drive Inflows in the US
The United States dominated the inflows, accounting for 99% of the total at $2.4 billion. This surge reflects a growing interest in spot-based ETFs and an uptick in net inflows across different providers.
In other regions such as Germany and Switzerland, inflows were modest at $13 million and $1 million respectively. However, Sweden witnessed outflows totaling $2 million.
Investors in blockchain equity ETFs chose to cash in their profits, resulting in outflows of $167 million after a period of continued inflows.
By
By
By
By