Digital Asset Investment Products See $1.18 Billion Inflows Amid Excitement Around Launch of Spot Bitcoin ETFs
Last week, digital asset investment products witnessed a significant surge in inflows, totaling an impressive $1.18 billion, albeit subject to a T+2 settlement.
While this influx of capital is noteworthy, it falls just shy of the record set during the launch of futures-based Bitcoin (BTC) ETFs in October 2021, which amassed a staggering $1.5 billion, according to CoinShares report.
The report said that trading volumes for exchange-traded products (ETPs) reached a historic high, clocking in at $17.5 billion for the week.
“These trading volumes represented almost 90% of daily trading volumes on trusted exchanges last Friday, unusually high as they typically average between 2%-10%.”
The United States led the pack, attracting $1.24 billion in inflows last week, with Switzerland also seeing notable inflows of $21 million.
Meanwhile, Europe and Canada experienced outflows, with Canada witnessing $44 million, Germany $27 million, and Sweden $16 million in capital moving out.
This phenomenon is likely due to basis traders seeking to transition their investments from Europe to the United States.
Bitcoin remains a dominant force, drawing in $1.16 billion in inflows last week, equivalent to approximately 3% of the total assets under management (AuM).
In contrast, short-bitcoin products saw modest inflows amounting to $4.1 million.
Ethereum attracted $26 million in inflows, while XRP garnered $2.2 million. Solana received only $0.5 million in inflows during the same period.
The influx of capital extended beyond cryptocurrencies as blockchain equities witnessed substantial inflows totaling $98 million.
Over the past seven weeks, these investments have garnered a cumulative inflow of $608 million, underlining the growing investor interest in
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