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News

Digital Asset Investment Products Saw Year-to-date Inflows Surpassing $15 Billion

June 3, 2024 - Around 2 mins mins to read

Key Points:

  • Digital asset investment products saw their fourth consecutive week of inflows, totaling $185 million, with year-to-date inflows surpassing $15 billion for the first time.
  • Bitcoin and Ethereum led the inflows, with Bitcoin attracting $148 million and Ethereum reversing a 10-week outflow trend following SEC approval of a spot-based ETF.
  • Despite positive trends in direct digital asset investments, blockchain equities experienced $7.2 million in outflows last week.
Digital asset investment products saw their fourth week in a row with inflows of $185 million, according to the latest weekly data from CoinShares.
Digital Asset Investment Products Saw Year-to-date Inflows Surpassing $15 Billion
Digital Asset Investment Products Saw Year-to-date Inflows Surpassing $15 Billion 2

Inflow of Digital Asset Investment Products Surge Past $15 Billion in 2024

This strong performance in May saw total inflows of $2 billion and took year-to-date inflows over the $15 billion mark for the first time. However, trading volumes dropped to $8 billion, down from $13 billion the previous week.

Most of the inflows of digital asset investment products came from the United States, with a net $130 million. However, there were significant outflows from incumbent ETF issuers, which rose to $260 million. Switzerland saw its second-largest week of inflows this year with $36 million, and Canada reversed its trend with $25 million in inflows despite having a net outflow of $39 million in May.

Blockchain Equities Face Continued Outflows

As the direct digital asset investments did well, blockchain equities fared poorly, with outflows last week reaching $7.2 million and $516 million year-to-date.

Investment in Bitcoin continued, with inflows totaling $148 million. Meanwhile, short-bitcoin products recorded another week of outflows at $3.5 million, indicating positive sentiment amongst ETF investors.

Ethereum also recorded a second week of inflows coming off the back of the SEC’s approval of a spot-based ETF due to be launched in July 2024. It is a marked change in sentiment for Ethereum after having lost $200 million across 10 consecutive weeks of outflows. Positive sentiment toward Ethereum also bled into Solana, with an additional $5.8 million in inflows last week.

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.

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Digital Asset Investment Products

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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 Saw Year-to-date Inflows Surpassing $15 Billion

Key Points:

  • Digital asset investment products saw their fourth consecutive week of inflows, totaling $185 million, with year-to-date inflows surpassing $15 billion for the first time.
  • Bitcoin and Ethereum led the inflows, with Bitcoin attracting $148 million and Ethereum reversing a 10-week outflow trend following SEC approval of a spot-based ETF.
  • Despite positive trends in direct digital asset investments, blockchain equities experienced $7.2 million in outflows last week.
Digital asset investment products saw their fourth week in a row with inflows of $185 million, according to the latest weekly data from CoinShares.
Digital Asset Investment Products Saw Year-to-date Inflows Surpassing $15 Billion
Digital Asset Investment Products Saw Year-to-date Inflows Surpassing $15 Billion 4

Inflow of Digital Asset Investment Products Surge Past $15 Billion in 2024

This strong performance in May saw total inflows of $2 billion and took year-to-date inflows over the $15 billion mark for the first time. However, trading volumes dropped to $8 billion, down from $13 billion the previous week.

Most of the inflows of digital asset investment products came from the United States, with a net $130 million. However, there were significant outflows from incumbent ETF issuers, which rose to $260 million. Switzerland saw its second-largest week of inflows this year with $36 million, and Canada reversed its trend with $25 million in inflows despite having a net outflow of $39 million in May.

Blockchain Equities Face Continued Outflows

As the direct digital asset investments did well, blockchain equities fared poorly, with outflows last week reaching $7.2 million and $516 million year-to-date.

Investment in Bitcoin continued, with inflows totaling $148 million. Meanwhile, short-bitcoin products recorded another week of outflows at $3.5 million, indicating positive sentiment amongst ETF investors.

Ethereum also recorded a second week of inflows coming off the back of the SEC’s approval of a spot-based ETF due to be launched in July 2024. It is a marked change in sentiment for Ethereum after having lost $200 million across 10 consecutive weeks of outflows. Positive sentiment toward Ethereum also bled into Solana, with an additional $5.8 million in inflows last week.

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.
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