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The digital asset market has seen an unprecedented surge in investment, with weekly inflows reaching a record-breaking $2.45 billion, bringing the year-to-date total to a whopping $5.2 billion.
CoinShares’ weekly report on digital asset fund flows by renowned investment strategist James Butterfill reveals important insights into this surge.
US has the upper hand
The United States emerged as the dominant force, capturing 99% of the total inflows ($2.4 billion). This spike marks a notable acceleration in net inflows spread across a variety of providers, indicating growing interest in spot-based ETFs. At the same time, outflows from existing players also decreased significantly. Germany and Switzerland saw a gradual inflow, while Sweden saw an outflow.
Asset-specific highlights
CoinShares’ financial data table breaks down the flow of funds across various cryptocurrencies, their investment providers, and assets.
Bitcoin led the way, securing over 99% of the inflow (total of $2.42 billion). Ethereum also gained investor confidence, recording $21 million in inflows.
However, some investors took advantage of this opportunity to increase their short positions in Bitcoin, resulting in an inflow of $5.8 million.
Solana’s downtime affected sentiment and led to a $1.6 million outflow. Notable inflows were observed in Avalanche, Chainlink, and Polygon.
Grayscale Investments, iShares ETF, and Fidelity ETF led provider-specific flows, while Bitcoin dominated asset-specific flows at $2.42 billion. Ethereum, Multi-Asset, and Solana also featured prominently.
James Butterfill highlights the importance of these inflows and their impact on total assets under management (AuM), which has soared to $67 billion, the highest level since December 2021.
“These inflows and recent positive price movements have pushed total assets under management (AuM) to USD 67 billion, the highest level since December 2021,” he said.
To summarize the report…
CoinShares’ weekly report highlighted significant inflows into digital asset investments and provided a clear and unambiguous view of investor behavior, regional trends and asset-specific preferences.
After analyzing the data, the report highlights the important points.
- Grayscale Investments LLC/L recorded significant capital outflows, with weekly flows of (-6,233) million USD, MTD flows of (-1,364.7) million USD, and year-to-date flows of (-7,006) million USD, under management. Asset balance was USD 32,254 million. .
- Meanwhile, the US iShares ETF posted strong weekly flows with weekly flows of USD 1,614.4 million, MTD flows of USD 2,577.7 million, year-to-date flows of USD 5,375 million, and AUM of USD 6,204 million. .
- The US Fidelity ETF is showing strong momentum, reporting weekly flows of USD 64.86 million, MTD flows of USD 1,285.9 million, YTD flows of USD 3,791 million, and AUM of USD 4,467 million.
- Swedish XBT provider AB has AUM of USD 2,867 million with weekly flows of USD (-28.9) million, MTD flows of USD (-39.4) million and YTD flows of USD (-81) million. was.
- 21Shares AG reported weekly flows of US$17 million, MTD flows of US$40.6 million, year-to-date flows of -8) million US$, and assets under management of US$2,612 million.
- The US ProShares ETF had weekly flows of US$109.6 million, MTD flows of negative (-9.6) million US$, year-to-date flows of positive US$191 million, and AUM of US$2,261 million.
- Purpose Investments Inc. ETF faced outflows with weekly flows of (-21.4) million USD, MTD flows of (-48.8) million USD, year-to-date flows of -(-189) million USD, and assets under management of (-21.4) million USD. It was USD 2,025 million.
- US ARK 21 shares have performed well with weekly flows of USD 405.4 million, MTD flows of USD 678.7 million, year-to-date flows of USD 1,334 million, and AUM of USD 1,521 million. reported.
- Other providers’ weekly flows totaled USD 330.4 million, MTD flows of USD 550 million, YTD flows of USD 1,749 million, and AUM of USD 12,846 million.
Weekly flows were USD 2,451.9 million, MTD flows were USD 3,670.4 million, year-to-date flows reached USD 5,157 million, and cumulative assets under management surged to USD 67,058 million.
The report also breaks down flows by different crypto assets. Weekly flows of various assets reached USD 2,451.9 million, MTD flows reached USD 3,670.4 million, year-to-date flows reached USD 5,157 million, and cumulative assets under management surged to USD 67,058 million.
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