Digital Asset Inflows Reached A 10-week Total Of $1.76 Billion

Key Points:

• Digital asset inflows saw a 10th consecutive week, reaching $176 million, marking the longest streak since October 2021.

• Bitcoin attracted the most funds with $133 million in inflows, while short-Bitcoin reversed a three-week trend with $3.6 million in inflows.

Digital asset inflows experienced a significant surge, reaching a total of $176 million last week. This marks the 10th consecutive week of steady inflows, with a cumulative total of $1.76 billion, or 4% of assets under management (AuM). 

Digital Asset Inflows Reach 10th Consecutive Week of Surging Funds

Year-to-date, the total AuM has skyrocketed by 107%, standing at $46.2 billion. However, it remains below the peak reached in 2021 at $86.6 billion. Trading volumes for Exchange-Traded Products (ETPs) remain robust, reaching $2.6 billion for the week, constituting 12% of the total Bitcoin volumes.

Bitcoin’s Resurgence and Global Impact

The focus on investment was prominent in Canada, Germany, and the US, witnessing digital asset inflows of $79 million, $57 million, and $54 million, respectively. On the other hand, Hong Kong experienced minor outflows totaling $15 million. Despite the relatively small total AuM in the Asian region and a low number of ETPs, it is noteworthy that the region has seen net outflows year-to-date.

Bitcoin emerged as the primary beneficiary, attracting inflows of $133 million, while short-Bitcoin, following a three-week period of outflows, saw a reversal with digital asset inflows totaling $3.6 million last week.

Ethereum also experienced positive momentum, with an additional $31 million in inflows last week. This marks a five-week streak amounting to $134 million, bringing net flows into positive territory at $10 million for the first time this year. Additionally, blockchain equities witnessed seven consecutive weeks of digital asset inflows, with last week’s $17.4 million inflow being the largest since July 2022.

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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