BITCOIN DOMINATES DIGITAL ASSET INVESTMENT PRODUCTS WITH 98% OF $1.1 BILLION INFLOWS 

CoinShares reported that the momentum in investments toward new issuers remains strong, with total inflows reaching $1.1 billion. Investments in digital assets surged by $1.1 billion, bringing the year-to-date total to $2.7 billion.

Following the recent market recovery and subsequent price increases, the total assets under management (AuM) have soared to their highest level since early 2022, reaching $59 billion. According to the latest edition of Coinshares’ Digital Asset Fund Flows Weekly Report, Bitcoin dominated with nearly 98% of the inflows over the past week, attracting $1.09 billion.

The report also revealed that Ethereum and Cardano experienced positive weekly inflows, attracting $16 million and $6 million, respectively.

Minor inflows were observed in Avalanche, Polygon, and Tron, which accumulated $0.5 million, $0.4 million, and $0.4 million, respectively.

However, digital asset products focused on Solana only attracted $0.1 million, while XRP settled at $0.3 million during the same period. Uniswap and Short-Bitcoin experienced minor outflows, totaling $0.5 million and $0.4 million, respectively.

While blockchain equities overall saw outflows, this was mainly due to one issuer experiencing $67 million in outflows, while all others collectively received inflows totaling $19 million.

Regionally, the focus remained primarily on newly issued spot-based Bitcoin ETFs in the United States, which received a net inflow of $1.1 billion last week, reaching $2.8 billion since their launch on January 11th.

Outflows from existing investments have slowed down, but the potential sale of Genesis holdings worth $1.6 billion could lead to further outflows in the coming months, the asset manager speculated.

Outflows from other regions have decreased, with minor outflows from Canada and Germany totaling $17 million and $10 million, respectively. However, Switzerland saw inflows of $35 million last week.

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