Digital Assets Drew $293M in Flows Last Week

Digital Assets Drew $293M in Flows Last Week

The latest seven-week run of inflows into cryptocurrency investment products has topped $1 billion.

JamesButterfill310x310
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Head of Research and Investment Strategy
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Reviewed by: etf.com Staff
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Edited by: Mark Nacinovich
  • Digital-asset investment products saw inflows of $293 million last week, bringing the latest seven-week run of inflows past the $1 billion mark. 
  • Bitcoin exchange-traded product trading volumes made up as much as 19.5% of total bitcoin trading volumes, suggesting ETP investors are participating much more in this rally compared with 2020 and 2021.
  • Ethereum saw its largest inflows since August 2022 of $49 million in inflows, as the last two weeks signifying a real turn around in sentiment.

Crypto Asset Flows Flows by Provider

Digital-asset investment products saw inflows of $293 million last week, bringing this seven-week run of inflows past the $1 billion mark and leaving year-to-date inflows at $1.14 billion. That makes 2023 the third-highest yearly inflows on record.

Total assets under management, as a result of these inflows and of recent price appreciation, rose 9.6% over the last week and have increased 99% since the beginning of the year. At $44.3 billion, total assets under managment is now the highest since the major crypto fund failures in May 2022. 

Bitcoin ETP trading volumes made up as much as 19.5% of total Bitcoin trading volumes on trusted exchanges. This has rarely happened and suggests ETP investors are participating much more in this rally compared rallies in 2020 and 2021. 

Bitcoin saw inflows of $240 million last week, pushing year-to-date inflows to $1.08 billion, while short-bitcoin saw $7 million in outflows, indicative of continue positive sentiment. 

Ethereum, saw its largest weekly inflows since August 2022 with $49 million in inflows, as the last two weeks signify a real turnaround in sentiment, likely related to the recent spot-based exchange-traded fund listing request in the U.S. Solana had inflows of $12 million. 

Blockchain equity ETFs saw $14 million in inflows, the largest since July 2022, bringing year-to-date flows to a positive position of $11 million. 

Flows by Institution

Crypto Asset Fund Flows As a % of Fund AUMWeekly Crypto Asset Flows by AssetBlockchain Equity ETps

 

Flows by Exchange Country

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.