Digital Asset Investment Products Had An Inflow Of $708 Million Last Week

Key Points:

• Global digital asset investment products attracted $708 million last week, pushing the year-to-date inflow to $1.6 billion.
• Bitcoin dominated with $703 million in inflows, comprising 99% of the total.

In the latest weekly report by CoinShares, global digital asset investment products displayed robust performance, with a total inflow of $708 million, contributing to a year-to-date inflow of $1.6 billion. The total global assets under management in digital asset investment products reached an impressive $53 billion.

Although ETP trading volume decreased from $10.6 billion to $8.2 billion, it remained significantly above the 2023 weekly average of $1.5 billion, constituting 29% of the total Bitcoin trading volume on reliable exchanges.

Bitcoin continued to dominate the scene, attracting inflows of $703 million last week, representing 99% of the total inflows. Meanwhile, short Bitcoin experienced minor outflows totaling $5.3 million, coinciding with a reversal in negative price momentum.

Solana emerged as a standout performer with inflows of $13 million, surpassing Ethereum and Avalanche, which faced outflows of $6.4 million and $1.3 million, respectively.

Regionally, the U.S. remained a key focus, witnessing substantial inflows of $721 million last week. Newly issued ETFs in the country averaged $1.9 billion in inflows over the past four weeks, accumulating a total of $7.7 billion since their launch on January 11th. Despite outflows of $6 billion from incumbent issuers, recent data indicates a significant reduction in the momentum of these outflows.

In the blockchain equities sector, there was a net outflow of $147 million from one issuer last week. However, this figure obscures the $11 million in inflows from other issuers, highlighting the nuanced dynamics within this segment.