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Market

Inflows Into Digital Asset Investment Products Reached $1.1 Billion Last Week

February 12, 2024 - Around 2 mins mins to read

Key Points:

  • Digital asset investment products surged with $1.1 billion inflows, pushing total assets to $59 billion, the highest since early 2022.
  • US Bitcoin ETFs attracted $1.1 billion last week, totaling $2.8 billion since launch, while potential Genesis sales may lead to further outflows.
  • Bitcoin dominated inflows, Ethereum and Cardano followed, while minor outflows were seen in Uniswap and Short-bitcoin.
Digital asset investment products experienced significant inflows, reaching a total of $1.1 billion, contributing to a year-to-date total of $2.7 billion.
Inflows Into Digital Asset Investment Products Reached $1.1 Billion Last Week
Inflows Into Digital Asset Investment Products Reached $1.1 Billion Last Week 2

Digital Asset Investment Products Soar: $1.1 Billion Inflows Propel Market

This surge, coupled with recent price increases, propelled total assets under management to $59 billion, marking the highest level since early 2022.

The spotlight remained on the newly issued spot-based Bitcoin ETFs in the US, which garnered a net inflow of $1.1 billion last week, bringing the total since the January 11th launch to $2.8 billion. Although outflows from established entities have slowed, the potential sale of Genesis holdings worth $1.6 billion could trigger further outflows in the near future.

Meanwhile, outflows from other regions tapered off, with minor outflows recorded in Canada ($17 million) and Germany ($10 million). In contrast, Switzerland experienced inflows of $35 million last week.

Dominance of Bitcoin Inflows: Ethereum, Cardano Gain Amidst Minor Outflows

Bitcoin dominated the inflows of digital asset investment products, capturing nearly 98% of the total, while the upward trend also bolstered sentiment for Ethereum and Cardano, attracting $16 million and $6 million, respectively. Minor inflows were observed in Avalanche ($0.5 million), Polygon ($0.4 million), and Tron ($0.4 million).

Conversely, Uniswap and Short-Bitcoin witnessed minor outflows, totaling $0.5 million and $0.4 million, respectively.

Although blockchain equities experienced outflows, the bulk stemmed from one issuer ($67 million), while other issuers collectively received inflows totaling $19 million.

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.

Avalanche

Cardano

Digital Asset Investment Products

Ethereum

Polygon

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Author

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.
Market

Inflows Into Digital Asset Investment Products Reached $1.1 Billion Last Week

Key Points:

  • Digital asset investment products surged with $1.1 billion inflows, pushing total assets to $59 billion, the highest since early 2022.
  • US Bitcoin ETFs attracted $1.1 billion last week, totaling $2.8 billion since launch, while potential Genesis sales may lead to further outflows.
  • Bitcoin dominated inflows, Ethereum and Cardano followed, while minor outflows were seen in Uniswap and Short-bitcoin.
Digital asset investment products experienced significant inflows, reaching a total of $1.1 billion, contributing to a year-to-date total of $2.7 billion.
Inflows Into Digital Asset Investment Products Reached $1.1 Billion Last Week
Inflows Into Digital Asset Investment Products Reached $1.1 Billion Last Week 4

Digital Asset Investment Products Soar: $1.1 Billion Inflows Propel Market

This surge, coupled with recent price increases, propelled total assets under management to $59 billion, marking the highest level since early 2022.

The spotlight remained on the newly issued spot-based Bitcoin ETFs in the US, which garnered a net inflow of $1.1 billion last week, bringing the total since the January 11th launch to $2.8 billion. Although outflows from established entities have slowed, the potential sale of Genesis holdings worth $1.6 billion could trigger further outflows in the near future.

Meanwhile, outflows from other regions tapered off, with minor outflows recorded in Canada ($17 million) and Germany ($10 million). In contrast, Switzerland experienced inflows of $35 million last week.

Dominance of Bitcoin Inflows: Ethereum, Cardano Gain Amidst Minor Outflows

Bitcoin dominated the inflows of digital asset investment products, capturing nearly 98% of the total, while the upward trend also bolstered sentiment for Ethereum and Cardano, attracting $16 million and $6 million, respectively. Minor inflows were observed in Avalanche ($0.5 million), Polygon ($0.4 million), and Tron ($0.4 million).

Conversely, Uniswap and Short-Bitcoin witnessed minor outflows, totaling $0.5 million and $0.4 million, respectively.

Although blockchain equities experienced outflows, the bulk stemmed from one issuer ($67 million), while other issuers collectively received inflows totaling $19 million.

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.