Flows into bitcoin products increased by $116 million last week

• Digital asset investment products saw inflows of about $117 million last week, the largest since July 2022.
• Bitcoin saw nearly all of the digital asset investment product inflows last week, accounting for $116 million of the total.
• Total assets under management (AUM) increased by $28 billion, nearly 43% from the lowest levels of inflows recorded in November.

Bitcoin saw the largest inflows of funds over the past week, with the cryptocurrency benchmark making up almost all of the weekly inflows.

According to a weekly digital asset manager report shared by CoinShares on Monday, crypto-asset investment products recorded inflows of $117 million. This was the largest week for inflows through digital asset investment products since July 2022.

Bitcoin products saw $116 million in inflows

Bitcoin accounted for approximately $116 million in total digital asset product flows. As the bitcoin price climbed above $23,000, inflows to short bitcoin products accounted for $4.4 million in weekly totals.

In other cryptocurrencies, inflows were $2.3 million for Ethereum and $1.1 million for Solana.

However, multi-asset investment products saw the ninth consecutive week of outflows of $6.4 million. Binance and XRP also saw outflows of around $400,000 and $200,000, respectively.

The rise in inflows pushed total assets under management (AUM) to more than $2.8 billion, with the metric up 43% from its November low. Investment products also saw an improvement in terms of weekly volumes.

According to a CoinShares report, $1.3 billion were traded, up 17% from the year-to-date average. Volume was also higher compared to the average of 11% for the broader crypto market.

In terms of different regions, Germany saw around 40% of the inflows of nearly $46m, while Canada, the US and Switzerland saw the three largest inflows of $30m, $26m and $23m, respectively.