More than $100 million in digital asset investment products flowed during the week ended June 3, making it the second consecutive week of inflows.
According to the latest CoinShares report, the flow brings the total assets under management (AuM) to $39.8 billion. Most of the inflows came from the US, totaling $88 million, while inflows from Europe were only $11 million.
The disparity is also reflected in the year-over-year inflows for each, which is now $570 million for the US, but only $41 million for Europe.
According to the report, this indicates more bearishness for European investors overall this year.
bitcoin products flow
Bitcoin-based investment products brought in a total of $126 million in the past week. This brings year-on-year inflows just past the half-billion mark, which reached $506 million last week.
Smaller bitcoin products also saw a total inflow of $1.3 million. Despite being relatively low, the report highlighted that year-on-year inflows now represent 30% of total AUM at $55 million, second only to Solana inflows.
Meanwhile, Ethereum-based products continued their streak of outflows, amounting to $32 million this past week. This makes it a nine-week outflow, which the report said is meant to “perpetuate negative investor sentiment.” However, this represents only less than 7% of the total AUM since the outflow began last December. However, the year-on-year outflow has now reached $357 million.
Notably, flows to other altcoins held steady over the past week, indicating that investors are flocking to the relative safety of bitcoin, according to the report.
However, investors have also been drawn to multi-asset investment products, which experienced a total inflow of $4.3 million last week.
The report outlined how these products have maintained steady inflows during this period of negative price action, with year-on-year inflows now exceeding $201 million.