Digital Asset Investment Products Recorded $14.9 Billion Since Early Year

Key Points:

• Digital asset investment products hit $1.05 billion for the third week, totaling $14.9 billion this year.
• The US leads with $1.03 billion in inflows, followed by Germany and Switzerland.
• Bitcoin ETPs attract $1.01 billion, and Ethereum sees $36 million amidst rising market optimism.

For a third straight week, digital asset investment products continued to see massive inflows, according to a report by CoinShares.

Record Inflows: Digital Asset Investment Products Surge to $1.05 Billion

The inflows of digital asset investment products in the week were $1.05 billion, taking the cumulative flows so far in the year to an all-time high of $14.9 billion. This has pushed total digital asset ETPs to a record $98.5 billion as investor appetite for the sector continues to grow.

The United States was the key focus for digital asset investment products, recording $1.03 billion of the total inflows, supported by reduced outflows from Grayscale, which declined to just $15 million for the week. Germany and Switzerland also recorded a notable inflow at $48 million and $30 million, respectively.

Data was tempered by outflows in Hong Kong-based spot BitcoinETFs; last week’s recording of a decline to $29 million came off the back of a $300 million surge in the first week.

Bitcoin ETPs Garner $1.01 Billion Amidst Market Optimism

Bitcoin ETPs gained the lion’s share of the inflows, at $1.01 billion, while short-Bitcoin products recorded outflows of $4.3 million. Sentiment has been turning positive of late on the back of recent price hikes and investor interpretation of the Federal Open Market Committee minutes and macroeconomic data, which has been mildly dovish.

Ethereum saw a robust $36 million inflow, marking the highest weekly inflow since March and likely due to the anticipation surrounding the approval of Ethereum ETFs in the United States. Solana also saw a notable inflow during the week at $8 million.