Outside Source
Investments in digital assets surged by $1.1 billion, bringing the year-to-date total to $2.7 billion.
With the recent market recovery and subsequent price hikes, the total assets under management (AuM) have reached their highest point since early 2022, hitting $59 billion.
- According to Coinshares’ latest edition of Digital Asset Fund Flows Weekly Report, Bitcoin dominated with nearly 98% of the inflows over the past week, raking in $1.09 billion.
- CoinShares’ report revealed that Ethereum and Cardano also benefited in terms of weekly inflows, attracting $16 million and $6 million, respectively.
- Minor inflows were observed in Avalanche, Polygon, and Tron, which amassed $0.5 million, $0.4 million, and $0.4 million, respectively.
- Solana-focused digital asset products, on the other hand, only attracted $0.1 million, while XRP settled at $0.3 million during the same period. Uniswap and Short-Bitcoin experienced minor outflows, totaling $0.5 million and $0.4 million, respectively.
- While blockchain equities overall saw outflows, these were primarily due to one issuer experiencing $67 million in outflows, while all others collectively received inflows totaling $19 million.
- Regionally, the focus remained primarily on newly issued spot-based Bitcoin ETFs in the United States, which garnered a net inflow of $1.1 billion last week, reaching $2.8 billion since their January 11th launch.
- Outflows from existing investments have slowed, but the potential sale of Genesis holdings worth $1.6 billion could lead to further outflows in the coming months, the asset manager speculated.
- Outflows from other regions have decreased, with minor outflows from Canada and Germany totaling $17 million and $10 million, respectively. Switzerland, however, saw inflows of $35 million last week.
This article first appeared at CryptoPotato
