YTD Inflows For Cryptoasset Funds Nears $9B

Takeaways

• Digital asset investment products saw inflows totalling US$288m last week, bringing the total inflows year-to-date to a record US$8.7bn.

• Bitcoin saw the majority of inflows totalling US$269m last week bring total inflows for October to US$2bn.

• The record-breaking previous week, following the US SEC permitting a Bitcoin futures ETF decision, was not repeated last week with only US$53m of inflows from US-based ETFs.

• Multi-asset investment products saw outflows totalling a record US$23m, in what is now a 3 week run of outflows.

Digital asset investment products saw inflows totalling US$288m last week, bringing the total inflows year-to-date to a record US$8.7bn, already 30% higher than the total for 2020.

Bitcoin saw the majority of inflows totalling US$269m last week bring total inflows for October to US$2bn. The record-breaking previous week, following the US SEC permitting a Bitcoin futures ETF decision, was not repeated last week with only US$53m of inflows from US-based ETFs. Other European and Canadian -based ETPs also saw inflows.

Ethereum broke its 3 week dry spell with inflows totalling US$17m last week with year-to-date inflows now totalling US$1bn. Last week’s outperformance of altcoins in general led to Ethereum’s market share rising back to 32%.

Other altcoins saw inflows, most notably Solana, Cardano and Polkadot which saw inflows totalling US$15m, US$5m and US$6.2m respectively.

Multi-asset investment products saw outflows totalling a record US$23m, in what is now a 3 week run of outflows. We believe investors are currently preferring single-line exposure and are becoming more discerning over their altcoin exposure.

Contact James Butterfill at [email protected]