Digital Assets Brought in $57M Last Week
The products saw positive investor sentiment in a low-volume week.
- Digital asset investment products saw inflows totalling US$57m last week, bringing flows back to a net inflow position year-to-date. Despite the positive sentiment amongst investors, volumes were low at US$970m for the week.
- Bitcoin saw US$56m of inflows, representing 98% of all inflows.
- Despite the Shapella upgrade occurring on the Ethereum network on the 12th April, inflows have been relatively minor at US$0.6m.
Digital asset investment products saw inflows totalling US$57m last week, bringing flows back to a net inflow position year-to-date. Despite the positive sentiment amongst investors, volumes were low at US$970m for the week, this was reflected in the global bitcoin exchange market where volumes were just 25% of the YTD average at US$18bn for the week.
The positive sentiment was primarily from the US, which saw US$27m of inflows. While Germany, Switzerland and Canada also saw inflows of US$17m, US$13m and US$2.2m, highlighting the breadth of positive sentiment for digital assets.
The focus was almost solely on Bitcoin, which saw US$56m inflows, representing 98% of all inflows. At the same time, short-bitcoin suffered minor outflows totalling US$0.6m.
While the focus was primarily on Bitcoin, 7 altcoins saw minor inflows, most notable were Uniswap, Polkadot and Polygon with US$0.5m, US$0.4m and US$0.23m respectively.
Despite the Shapella upgrade (our detailed analysis here) occurring on the Ethereum network on the 12th April, inflows have been relatively minor at US$0.6m.
Blockchain equities saw a relatively quiet week, with minor inflows totalling US$2.1m.
Contact James Butterfill at [email protected]
