Market

Digital Asset Inflows Reached A 10-week Total Of $1.76 Billion

Key Points:

Digital asset inflows saw a 10th consecutive week, reaching $176 million, marking the longest streak since October 2021.
Bitcoin attracted the most funds with $133 million in inflows, while short-Bitcoin reversed a three-week trend with $3.6 million in inflows.

Digital asset inflows experienced a significant surge, reaching a total of $176 million last week. This marks the 10th consecutive week of steady inflows, with a cumulative total of $1.76 billion, or 4% of assets under management (AuM).

Digital Asset Inflows Reach 10th Consecutive Week of Surging Funds

According to CoinShare, the continuous influx of funds represents the longest streak since the introduction of the futures-based ETF in the United States in October 2021.

Year-to-date, the total AuM has skyrocketed by 107%, standing at $46.2 billion. However, it remains below the peak reached in 2021 at $86.6 billion. Trading volumes for Exchange-Traded Products (ETPs) remain robust, reaching $2.6 billion for the week, constituting 12% of the total Bitcoin volumes.

Bitcoin’s Resurgence and Global Impact

The focus on investment was prominent in Canada, Germany, and the US, witnessing digital asset inflows of $79 million, $57 million, and $54 million, respectively. On the other hand, Hong Kong experienced minor outflows totaling $15 million. Despite the relatively small total AuM in the Asian region and a low number of ETPs, it is noteworthy that the region has seen net outflows year-to-date.

Bitcoin emerged as the primary beneficiary, attracting inflows of $133 million, while short-Bitcoin, following a three-week period of outflows, saw a reversal with digital asset inflows totaling $3.6 million last week.

Ethereum also experienced positive momentum, with an additional $31 million in inflows last week. This marks a five-week streak amounting to $134 million, bringing net flows into positive territory at $10 million for the first time this year. Additionally, blockchain equities witnessed seven consecutive weeks of digital asset inflows, with last week’s $17.4 million inflow being the largest since July 2022.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.