Bitcoin products accounted for the bulk of the $312 million inflow, pushing total assets under management to an 18-month high.
Despite increased global capital inflows, US investors remained cautious. Last week, investors poured a staggering $346 million into digital asset investment products, marking the largest weekly inflow in more than two months.
The rally is underpinned by widespread expectations for the potential launch of spot ETFs in the U.S., reflecting enthusiasm reminiscent of the bull market in late 2021.
Ethereum leads the pack of altcoins
A combination of rising prices and continued inflows has pushed total assets under management (AuM) to a whopping $45.3 billion, according to the latest edition of the Digital Asset Fund Flow Weekly Report written by James Butterfill, head of research at CoinShares. . This is the highest level in 18 months.
Notably, the majority of inflows, or 87%, came from Canada and Germany. By contrast, inflows into the US were relatively modest at $30 million, indicating the cautious attitude of investors as they await the launch of the long-awaited spot ETF.
Among altcoins, Ethereum has seen a notable turnaround with $34 million in inflows last week. The report found that altcoin leaders donated a total of $103 million in four weeks. This resurgence marks a decisive shift in sentiment and counters the outflow trend that characterized much of this year.
Last week, investors poured a staggering $346 million into digital asset investment products, marking the largest weekly inflow in more than two months.
The surge was fueled by widespread expectations for the potential launch of spot ETFs in the U.S. and reflects enthusiasm reminiscent of the bull market in late 2021.
Ethereum leads the pack of altcoins
A combination of rising prices and continued inflows has pushed total assets under management (AuM) to a whopping $45.3 billion, according to the latest edition of the Digital Asset Fund Flow Weekly Report written by James Butterfill, head of research at CoinShares. . This is the highest price in 18 months. Notably, the majority of inflows, or 87%, came from Canada and Germany. By contrast, inflows into the US were relatively modest at $30 million, indicating the cautious attitude of investors as they await the launch of the long-awaited spot ETF.
Among altcoins, Ethereum has seen a notable turnaround with $34 million in inflows last week. The report revealed that altcoin market leaders donated a total of $103 million in four weeks. This resurgence marks a decisive shift in sentiment and counters the outflow trend that characterized much of this year. Other prominent digital assets also attracted investor attention. Solana, Polkadot, and Chainlink recorded total inflows of $3.5 million, $800,000, and $600,000, respectively.
Bitcoin is seeing a large amount of inflow
Bitcoin remains a dominant force, recording $312 million in inflows last week, bringing year-to-date inflows to over $1.5 billion. Short sellers relented, recording total outflows of $900,000 for the third week in a row, while Bitcoin assets under management are down 61% from their peak in April 2023.
The report further states that the volume of ETP exchange-traded products as a percentage of total spot Bitcoin trading volume continues to be well above average, accounting for effectively 18% last week. This trend is evidenced by the "continued rise in the use of ETPs to gain exposure to asset classes."
