Digital Asset Investment Products Sees Fourth Consecutive Week Of Inflows

Key Points:

• Digital asset investment products saw $598 million in weekly inflows, surpassing $5.7 billion in year-to-date investments.
• US led with $610 million inflows despite Grayscale’s $436 million outflows, while other regions saw mixed results.
• Bitcoin attracted $570 million inflows, Ethereum and others followed suit, but Solana experienced outflows.

Digital asset investment products experienced significant weekly inflows of $598 million, marking the fourth consecutive week of increased investment.

Digital Asset Investment Products Surge: Weekly Inflows Reach $598M

Year-to-date inflows have now exceeded $5.7 billion, constituting 55% of the record inflows seen in 2021. Total assets under management (AuM) peaked at $68.3 billion earlier in the week, reaching the highest level since December 2021, although still below the all-time high of $87 billion witnessed in November 2021.

In the US, the focal point of investment activity, inflows amounted to $610 million, influenced by Grayscale, despite the issuer experiencing further outflows of $436 million last week. Brazil and Switzerland observed minor inflows of $8.2 million and $2.1 million respectively, while Canada and Sweden encountered outflows totaling $18 million and $8 million respectively.

Bitcoin Leads Inflows, Solana Faces Outflows Amid Market Dynamics

Bitcoin attracted significant attention with $570 million in inflows, bringing year-to-date inflows to $5.6 billion. However, recent price surges prompted minor inflows into short-bitcoin positions, totaling $3.9 million.

Ethereum saw inflows of $17 million, while Chainlink and XRP attracted $1.8 million and $1.1 million respectively. Conversely, Solana experienced outflows of $3 million likely due to recent outages impacting investor sentiment.

Despite the robust performance of digital asset investment products, blockchain equities witnessed outflows totaling $81 million last week, indicating a degree of caution among equity investors amidst market uncertainties.