Second Straight Week of Crypto Product Inflows – Last Week’s Estimate Bumped Up

Inflows into digital assets investment products continued for a second straight week, amounting to $180 million, the latest CoinShares report says. 

Additionally, late trade reporting pushed up the year’s largest inflows to date last week from $193 million to $244 million.

The report noted that these consecutive weeks of significant inflows have raised year-to-date net flows to $501 million. This also contributed to a recovery of total assets under management, which now stands at $61 billion, the highest since the beginning of the year. 

CoinShares also highlighted regional discrepancies, with 99% of inflows coming from Europe, and only $1.7 million of inflows being registered in the Americas.

Inflows reach $350 million, says CoinShares

As usual, Bitcoin-based investment products saw a majority of inflows, totaling $144 million. This brings year-to-date inflows to $350 million, which represents 0.9% of assets under management (AUM). 

However, the report noted that year-on-year inflows have been lagging, as Bitcoin-based products saw inflows totaling $3 billion in the first quarter of last year, “a particularly euphoric period for the asset.”

Meanwhile, Ethereum-based investment products experienced a second consecutive week of inflows amounting to $23 million, which followed two weeks of outflows amounting to $68 million. Although this represents an improving sentiment, Ethereum-based products have struggled this year, with net flows still running negative at $111 million. 

The report underscored the contrast with the first quarter of last year when inflows amounted to $705 million.

Other altcoin-based investment products also experienced inflows this past week, with Solana and Cardano recording $8.2 million and $1.8 million respectively. 

CoinShares noted that Solana had become the third best performing investment product so far this year, as year-to-date inflows had topped $103 million. 

Interestingly, short-Bitcoin investment products, which retain only $9 million of AUM, saw a proportionally significant amount of inflows over the past week at $1 million.