Digital Assets Saw $742M of Inflows Over Last 4 Weeks

The amount represents the largest run of inflows since the final quarter of 2021.

Takeaways

• Digital asset investment products saw US$137m of inflows last week. Following a few late updates to prior weekly data, inflows for the last 4 weeks now total US$742m, representing the largest run of inflows since the final quarter of 2021.
• Bitcoin saw inflows totalling US$140m, comprising 99% of all inflows. While short bitcoin investment products saw a 12th week of outflows of US$3.2m.
• The recent price appreciation in Ethereum has not been followed with inflows, with US$2m outflows last week, remaining the asset with the most outflows year-to-date.

Digital asset investment products saw US$137m of inflows last week. Following a few late updates to prior weekly data, inflows for the last 4 weeks now total US$742m, representing the largest run of inflows since the final quarter of 2021. Trading volumes on investment products remain well above the year average of US$1.4bn, totalling US$2.3bn for last week. The volumes are currently making up a far greater proportion of total crypto volumes, comprising 11% last week compared to the 2% average.

Regionally, the inflows were focussed almost solely on North America, with inflows of US$109m and US$28m in the US and Canada respectively. While minor outflows were seen in Europe with the exception of minor inflows in Switzerland.

Bitcoin Inflows

Bitcoin saw inflows totalling US$140m, comprising 99% of all inflows. While short bitcoin investment products saw a 12th week of outflows of US$3.2m. A combination of recent price appreciation and outflows have seen short bitcoin total assets under management fall from their April US$198m peak to just US$55m.

The recent price appreciation in Ethereum has not been followed with inflows, with US$2m outflows last week, remaining the asset with the most outflows year-to-date. Altcoins, Solana, Polygon and Litecoin saw minor inflows of between US$0.5m, US$0.5m and US$.3m respectively.

Contact James Butterfill at [email protected]