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News

Digital Asset Investment Products Hit Record Inflows of $2.9 Billion

March 18, 2024 - Around 2 mins mins to read

Key Points:

  • Digital asset investment products saw a record-breaking weekly inflow of $2.9 billion, driving year-to-date inflows to $13.2 billion, surpassing 2021’s total.
  • Bitcoin dominated with $2.86 billion in inflows last week, comprising 97% of total inflows this year, while short bitcoin products also saw significant growth.
Digital asset investment products experienced a surge in weekly inflows, reaching a record-breaking $2.9 billion, surpassing the previous week’s all-time high of $2.7 billion.
Digital Asset Investment Products Hit Record Inflows of $2.9 Billion
Digital Asset Investment Products Hit Record Inflows of $2.9 Billion 2

Record Inflows Propel Digital Asset Investment Products to New Heights

This spike has catapulted year-to-date inflows to an impressive $13.2 billion, surpassing the entire 2021 inflow of $10.6 billion. Trading volumes of digital asset investment products remained robust at $43 billion for the week, comprising a significant 47% of the global Bitcoin volumes.

Global Exchange-Traded Products (ETPs) breached the monumental $100 billion mark for the first time during the week. However, a price correction towards the end of the week caused it to settle slightly lower at $97 billion.

In terms of regional trends, the United States witnessed significant inflows of $2.95 billion. Minor inflows were also noted in Australia, Brazil, and Hong Kong, totaling $5 million, $24 million, and $15 million, respectively. Conversely, Canada, Germany, Sweden, and Switzerland experienced combined outflows of $78 million.

Bitcoin Dominance Continues as Short Products Gain Traction

Bitcoin continued to dominate, attracting $2.86 billion in inflows last week, constituting a staggering 97% of all inflows year-to-date. Conversely, short Bitcoin products observed their largest inflows in a year, totaling $26 million, marking their fifth consecutive week of growth.

However, smart contracting faced challenges, with Ethereum, Solana, and Polygon witnessing outflows totaling $14 million, $2.7 million, and $6.8 million, respectively. On a positive note, blockchain equities saw a turnaround with inflows of $19 million, marking the end of a six-week period of outflows.

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.

Bitcoin

Digital Asset Investment Products

Ethereum

Polygon

Solana

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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.
News

Digital Asset Investment Products Hit Record Inflows of $2.9 Billion

Key Points:

  • Digital asset investment products saw a record-breaking weekly inflow of $2.9 billion, driving year-to-date inflows to $13.2 billion, surpassing 2021’s total.
  • Bitcoin dominated with $2.86 billion in inflows last week, comprising 97% of total inflows this year, while short bitcoin products also saw significant growth.
Digital asset investment products experienced a surge in weekly inflows, reaching a record-breaking $2.9 billion, surpassing the previous week’s all-time high of $2.7 billion.
Digital Asset Investment Products Hit Record Inflows of $2.9 Billion
Digital Asset Investment Products Hit Record Inflows of $2.9 Billion 4

Record Inflows Propel Digital Asset Investment Products to New Heights

This spike has catapulted year-to-date inflows to an impressive $13.2 billion, surpassing the entire 2021 inflow of $10.6 billion. Trading volumes of digital asset investment products remained robust at $43 billion for the week, comprising a significant 47% of the global Bitcoin volumes.

Global Exchange-Traded Products (ETPs) breached the monumental $100 billion mark for the first time during the week. However, a price correction towards the end of the week caused it to settle slightly lower at $97 billion.

In terms of regional trends, the United States witnessed significant inflows of $2.95 billion. Minor inflows were also noted in Australia, Brazil, and Hong Kong, totaling $5 million, $24 million, and $15 million, respectively. Conversely, Canada, Germany, Sweden, and Switzerland experienced combined outflows of $78 million.

Bitcoin Dominance Continues as Short Products Gain Traction

Bitcoin continued to dominate, attracting $2.86 billion in inflows last week, constituting a staggering 97% of all inflows year-to-date. Conversely, short Bitcoin products observed their largest inflows in a year, totaling $26 million, marking their fifth consecutive week of growth.

However, smart contracting faced challenges, with Ethereum, Solana, and Polygon witnessing outflows totaling $14 million, $2.7 million, and $6.8 million, respectively. On a positive note, blockchain equities saw a turnaround with inflows of $19 million, marking the end of a six-week period of outflows.

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.