Digital Assets See Weekly Inflows Of $80M
Bitcoin saw the largest inflows, $70 million, for a fifth consecutive week of inflows.
Takeaways
- Digital asset investment products saw inflows totalling US$80m last week.
- Total assets under management are now at US$72.3bn, their highest level on record.
- Bitcoin saw the largest inflows, totalling US$70m, marking the 5th consecutive week of inflows.
- Polkadot and Cardano saw continued inflows totalling US$3.6m and US$2.7m, respectively, while Ethereum saw minor outflows totalling US$1m.
(For a larger view, click on the image above)
Digital asset investment products saw inflows totalling US$80m last week. These inflows, combined with positive price action over the week, have pushed total assets under management (AuM) to US$72.3bn, their highest level on record, surpassing the previous record of US$71.6bn set in May this year.
Bitcoin saw the largest inflows, totalling US$70m, marking the 5th consecutive week of inflows. The weekly inflows remain much lower than inflows seen in the first quarter of 2021, where there was much greater participation by US investors. The recent decision by the SEC to allow a futures-based ETF in the United States could prompt further significant inflows in the coming weeks as US investors begin to add positions.
Ethereum saw outflows of US$1m last week. Despite this being the second week of outflows, these flows are not significant to define a trend at present.
Other altcoins, such as Polkadot and Cardano, saw continued inflows totalling US$3.6m and US$2.7m, respectively.
(For a larger view, click on the image above)
(For a larger view, click on the image above)
(For a larger view, click on the image above)
(For a larger view, click on the image above)
(For a larger view, click on the image above)
(For a larger view, click on the image above)
Contact James Butterfill at [email protected]
