$42M Flows Into Digital Asset Funds
Inflows were seen across all digital assets.
Takeaways
- Digital asset investment products saw inflows totalling US$42 million last week. Inflows were seen across all digital assets and signals what we believe to be continued improving sentiment amongst investors.
- Bitcoin saw inflows of US$15m. It has suffered the most from negative investor sentiment with inflows in only 3 of the last 16 weeks.
Solana, despite recovering from a network outage caused by a DDoS attack, saw inflows of US$4.8m. This suggests investors were happy to shrug-off the attack, seeing it as teething problems rather than something more inherent with the network.
Digital asset investment products saw inflows totalling US$42 last week. Inflows were seen across all digital assets and signals what we believe to be continued improving sentiment amongst investors and marks the 5th consecutive week of inflows. This improved sentiment could be a seasonal phenomenon, but we are not seeing a commensurate rise in volumes in investment products. This suggests that some investors are taking advantage of recent price weakness and the continued rise in alt-coin popularity.
Bitcoin saw inflows of US$15m. It has suffered the most from negative investor sentiment with inflows in only 3 of the last 16 weeks. Over the course of 2021 its total market share of assets under management (AuM) has fallen from 81% (in January) to just 67% today.
Ethereum and multi-asset investment products saw unremarkable inflows of US$6.6m and US$3.7m respectively.
Solana, despite recovering from a network outage caused by a DDoS attack, saw inflows of US$4.8m. This suggests investors were happy to shrug-off the attack, seeing it as teething problems rather than something more inherent with the network. Inflows were also likely helped by speed at which miners adopted the upgraded protocol.
Contact James Butterfill at [email protected]
