Digital Asset Investments Stage a Comeback; Bitcoin Reigns Supreme With $87.6M Inflows
Digital asset investment products resumed inflows after breaking the 11-week streak of positive cash flows. According to the findings by CoinShares’ Head of Research, James Butterfill, the net inflows totaled $103 million over the last week.
Bitcoin investment products, as usual, attracted the highest capital inflow. The digital asset manager revealed a net inflow of $87.6 million during the period. Short-bitcoin also experienced a minor inflow amounting to $0.3 million.
- Ethereum investment products saw positive activity, recording a net inflow of $7.9 million, while Solana investment products attracted a net influx of $6 million.
- Among the altcoins, Avalanche and Litecoin were the only ones recording outflows of $2.6 million and $0.4 million, respectively, over the past week.
- In terms of geographical distribution, the frontrunners in investment were Germany, Canada, and the USA, with money flowing in at $41.6 million, $25.8 million, and $20.4 million, respectively.
- Switzerland, Brazil, Australia, and France followed suit with inflows of $15 million, $8 million, $1.2 million, and $0.3 million, respectively. On the flip side, Sweden experienced outflows amounting to $8.7 million.
- The latest estimates indicate a mild recovery from the previous CoinShares report, which revealed the end of an 11-week streak of positive cash flows for digital asset investment products, concluding with withdrawals totaling $16 million.
- During that period, Bitcoin witnessed the most significant impact, with outflows of $33 million. While most altcoins managed to buck the trend and post inflows, products focused on Ethereum and Avalanche experienced modest declines.
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