Digital Assets See $64M In Inflows
But the majority of those funds last week went into short-bitcoin investment products.
- Digital asset investment products saw inflows totalling US$64m last week, although the headline figures obscure the fact that a significant majority were into short-bitcoin investment products (US$51m).
- Small inflows were seen into long investment products in regions other than the US such as Brazil, Canada, Germany and Switzerland totalling US$20m.
- This highlights investors are adding to long positions at current prices, with the inflows into short-Bitcoin possibly due to first-time accessibility in the US rather than renewed negative sentiment.
Digital asset investment products saw inflows totalling US$64m last week, although the headline figures obscure the fact that a significant majority were into short-bitcoin investment products.
Small inflows were seen into long investment products in regions other than the US such as Brazil, Canada, Germany and Switzerland totalling US$20m. This highlights investors are adding to long positions at current prices, with the inflows into short-Bitcoin possibly due to first-time accessibility in the US rather than renewed negative sentiment.
Bitcoin saw little inflows over the week, totalling just US$0.6m. Short-Bitcoin saw record inflows totalling US$51m after the product launch in the US.
Ethereum saw a second week of inflows totalling US$5m last week, breaking the 11-week spell of outflows.
Multi-asset (multi-crypto) investment products saw inflows totalling US$4.4m and remain the least affected by recent negative sentiment with minor outflows in only 2 weeks of this year.
A range of altcoins saw inflows suggesting investors are beginning to diversify again. Notably Solana, Polkadot and Cardano totalling US$1m, US$0.7m and US$0.6m respectively.
Contact James Butterfill at [email protected]
