Digital Assets Register 8th Straight Week of Inflows

Bitcoin continued to dominate, with $155 million in inflows last week, with the last eight weeks of inflows representing 3.4% of assets under management.

Digital-asset investment products saw inflows of $176 million last week in a continuation of consecutive weekly inflows that has now lasted eight weeks, bringing year-to-date inflows to $1.32 billion. However, the inflows remain well behind 2021 and 2020, which saw $10.7 billion and $6.6 billion respectively.

Trading volumes in ETPs have averaged $3 billion per week, double this year’s average of $1.5 billion. ETP share of total crypto volumes is rising, averaging 11% compared with the long-term historical average of 3.4%, and well above the averages seen in the 2020/21 bull market. 

Regionally, Canada, Germany and Switzerland continued to see inflows of $98 million, $63 million and $35 million, respectively, while the U.S. saw outflows from futures-based products totalling $19 million. 

Bitcoin continued to dominate, with $155 million in inflows last week, with the last eight weeks of inflows representing 3.4% of total assets under management.

Short-bitcoin saw outflows of $8.5 million last week. We believe this continued positive sentiment is related to the imminent approval of a spot-based bitcoin exchange-traded fund in the U.S., we have written here about its potential price impact. 

A wide selection of altcoins saw inflows, most notable were solana, ethereum and avalanche which saw $13.6 million, $3.3 million and $1.8 million respectively. Uniswap and polygon saw minor outflows of $550,000 and $860,000, respectively.