CoinShares Reports $1.35B Inflow into Digital Assets

LUCKNOW (CoinChapter.com) — According to the latest report from CoinShares, the digital asset funds attracted $1.35 billion in inflows in just one week, bringing the total inflows over the past three weeks to $3.2 billion.

Bitcoin Leads with $1.27 Billion in Weekly Inflows

The leading digital asset is Bitcoin, which drew in $1.27 billion in inflows.

The $1.9 million outflow from short-Bitcoin exchange-traded products (ETPs) further emphasizes this bullish sentiment. Since March, these short-Bitcoin products have experienced $44 million in outflows, representing over 55% of their assets under management (AUM). Market analysts suggest this indicates growing bullish sentiment, particularly following the Bitcoin halving event in April.

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Ethereum, the second-largest cryptocurrency by market cap, also shows strong performance. This digital asset attracted $45 million in inflows last week, pushing its year-to-date (YTD) inflows to $103 million. This surge has allowed Ethereum to overtake Solana as the altcoin with the highest YTD inflows. However, Solana remains a strong contender, drawing $9.6 million last week and boasting $71 million in YTD inflows.

US Dominates Market With $1.3 Billion of Weekly Digital Asset Inflows

The United States leads this investment charge, accounting for a $1.3 billion weekly inflow. Switzerland follows with a considerable $66 million contribution. In contrast, Brazil and Hong Kong experienced minor outflows of $5.2 million and $1.9 million respectively.

Trading activity in the crypto market has also seen a significant uptick. ETP trading volumes surged by 45% week-on-week, reaching $12.9 billion. However, it’s worth noting that this represents only 22% of the broader crypto market volumes, which is lower than usual.

Blockchain Equities Struggle With $8.5 Million in Outflows 

Interestingly, while digital assets are inflow, blockchain equities face some challenges. These equities saw outflows of $8.5 million last week despite most ETFs outperforming world equity indices. 

This surge in crypto investments aligns with trends in the traditional financial world. BlackRock, one of the largest asset managers, recently reported a record $10.6 trillion in assets under management as of the end of the fourth quarter. This growth marks a $1.2 trillion year-over-year growth for the firm. BlackRock’s CEO, Larry Fink, attributes this growth to private markets, retail investors, and surging flows into the firm’s ETFs.

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