YTD Inflows For Cryptoasset Funds Nears $9B

Digital asset investment products saw inflows totaling US$288 million last week.

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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

  • 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]

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.