Solana Tops Digital Asset Fund Flows

First inflows totaling US$21 million following a six-week run of outflows.

JamesButterfill310x310
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Head of Research and Investment Strategy
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Reviewed by: James Butterfill
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Edited by: James Butterfill

Takeaways

  • Positive price action in recent weeks has now pushed total assets under management (AuM) to US$57.3bn, the highest since mid-May.
  • Solana, a competitor to Ethereum, saw the largest inflows of any digital asset last week totalling US$7.1m.
  • Ethereum saw minor inflows totalling US$3.2m last week along with other altcoins such as Cardano, Litecoin and Polkadot which saw inflows of US$6.4m, US$1.8m and US$1.1m respectively.

 

Weekly Crypto Asset Flows

 

Weekly Crypto Asset Flows

 

Weekly Crypto Asset Flows

 

Digital asset investment products saw net inflows of US$21m, the first following 6 straight weeks of outflows, indicating an improved investor sentiment. Positive price action in recent weeks has now pushed total assets under management (AuM) to US$57.3bn, the highest since mid-May.

Flows across product providers remained mixed, with some continuing to post outflows for the week while others in both North America and Europe posted inflows. We believe this indicates the beginning of a turn in sentiment for digital assets.

Solana, a competitor to Ethereum offering a flexible infrastructure and faster transaction settlement, saw the largest inflows of any digital asset last week totalling US$7.1m.

Ethereum saw minor inflows totalling US$3.2m last week along with other altcoins such as Cardano, Litecoin and Polkadot which saw inflows of US$6.4m, US$1.8m and US$1.1m respectively.

Bitcoin saw its 7th straight week of outflows totalling US$2.8m, matching the run seen in January 2018. While this may suggest sentiment remains negative, it masks very mixed flows across providers.

 

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Contact James Butterfill at [email protected]

 

James Butterfill has over 19 years of experience in fund management, investment banking, economics and asset allocation, gained most recently as an investment strategist at CoinShares. Previously, he was head of research at ETF Securities, with prior experience as a multi-asset fund manager and investment strategist at Coutts & Co., HSBC & ING Barings. James is a regular media commentator, and frequently appears on Bloomberg TV, CNBC, BBC and other broadcast outlets. Investment Week awarded him best ETF Eesearch and best FX Research in 2016 and 2017, respectively. James is currently an investment strategist at CoinShares, writing research white papers on investment themes, identifying investment opportunities and helping investors understand the digital asset world.