CoinShares announced a historic week in the digital asset market, with an unprecedented influx of $2.45 billion observed, marking a substantial recovery in assets under management (AuM) to levels last seen in December 2021.
Amidst a notable market rebound, investment products for digital assets saw record weekly inflows of $2.45 billion, bringing year-to-date inflows to an impressive $5.2 billion. This surge, coupled with recent favorable price trends, propelled total assets under management (AuM) to $67 billion, reaching its highest point since December 2021.
Bitcoin dominated the inflows, accounting for over 99% of the total. However, some investors took the opportunity to increase short positions in Bitcoin, resulting in $5.8 million in inflows over the past week. Ethereum also saw positive momentum with $21 million in inflows.
Despite its strong performance earlier in the year, Solana faced a setback in investor sentiment following a network outage due to a bug, resulting in outflows of $1.6 million. On the other hand, Avalanche, Chainlink, and Polygon continued to attract inflows consistently, with $1 million, $0.9 million, and $0.9 million, respectively. XRP recorded $0.4 million in weekly inflows.
In the United States, spot Bitcoin ETFs drove the majority of inflows, comprising 99% of the total at $2.4 billion. This surge reflects a growing interest in spot-based ETFs, with net inflows spreading across different providers. Meanwhile, established players saw reduced outflows.
In other regions like Germany and Switzerland, inflows were modest at $13 million and $1 million, respectively, while Sweden witnessed outflows totaling $2 million. Investors in blockchain equity ETFs opted to capitalize on continued inflows, resulting in outflows amounting to $167 million.