CoinShares revealed that digital asset investment products recorded an aggregate inflow of $185 million last week, representing the fourth consecutive week of inflow after four consecutive weeks of outflows. The aggregate amount of flows since the beginning of this year is $15 billion, while a total of $2 billion was recorded last month. Volumes were down for the week though, falling to US$8bn, relative to US$13bn the week prior,” reads the report.
Bitcoin saw the largest inflow of $148 million, followed by Ethereum at $33.5 million. This is the second straight week of inflows for Ethereum after the U.S. SEC approved a spot ETH ETF, which is expected to launch next month.
“This represents a turnaround in investor sentiment in an asset that had seen a 10-week run of outflows prior, totalling US$200m. This positive news for Ethereum has also had an impact on Solana, which saw a further US$5.8m inflow last week,” reads the report.
This was followed by Solana, Chainlink, XRP and Litecoin at $5.8 million, $1 million, $800k, and $600k, respectively. Short-bitcoin saw outflows of $3.5 million, “suggesting sentiment amongst ETF investors remains positive.” Investors withdrew funds from multi-coin investment products, leading to an outflow of $2.7 million.
In terms of region, the United States recorded the highest amount of inflow at $130 million. Switzerland, Canada, Hong Kong, Australia, and Germany saw inflows of $36.8 million, $24.6 million, $1.7 million, $1.4 million and $500k respectively. Sweden and Brazil saw outflows of $5.1 million and $4.4 million respectively.
“Despite recent direct investments success in digital assets, blockchain equities have suffered, seeing US$7.2m outflows last week and US$516m this year,” said CoinShares.
