Thursday, April 25, 2024

Digital Asset Investment Products See Highest Inflows Since July 2022: Report


in january. On September 30, European cryptocurrency investment firm CoinShares published its “Digital Asset Money Flow Report,” which revealed that digital asset investments saw inflows surge last week, reaching $117 million, the highest level since July 2022.

4bd01cc8 7a13 4369 abe6 f0d6d2051ae6

CoinShares reported that total assets under management rose to $28 billion, up 43% from its lows in November 2022. The improvement in investment product volumes was evident, with $1.3 billion traded during the week, up 17% compared to the average for the year. to date. Meanwhile, weekly volumes in the digital asset market increased by an average of 11%.

Germany had the highest inflows last week, taking 40% of the total ($46 million), followed by Canada, the United States and Switzerland, which received $30 million, $26 million and $23 million, respectively. Most of the inflows were directed into Bitcoin (BTC) products, worth $116 million, while minor inflows were seen into short-term Bitcoin products worth $4.4 million, indicating a polarized view.

The report also revealed that multi-asset investment products continued to see outflows for the ninth consecutive week, with a total value of $6.4 million. According to James Butterville, Head of Research at CoinShares, this indicates that investors are choosing to invest more selectively. This trend was evident in altcoins, such as Solana (SOL), Cardano (ADA), and Polygon (MATIC) saw inflows, while Bitcoin Cash (BCH), Stellar (XLM), and Uniswap (UNI) saw minor inflows.

Investors have also shown interest in blockchain stocks, with inflows totaling $2.4 million. However, closer examination reveals that sentiment is still divided among the providers.

Related: Bitcoin price is capping gains over the weekend as another “gap” in CME lurks below $20,000

In general, the digital asset market witnessed significant growth last week, with investment products seeing record inflows and improved volumes. The general trend indicates that investors are becoming more selective in their investments, with sentiment towards blockchain stocks divided.