Last week saw $85 million in inflows into digital asset investment products for the third straight week.
According to the latest CoinShares report, three straight weeks of inflows, which have now accumulated to $133 million, suggest a continuation of the positive sentiment among investors.
Total assets under management (AUM) reached $52.4 billion last week, as the lowest point of the most recent negative sentiment was January 24. While the report acknowledged inflows into Europe ($10.3m), it emphasized that most were in the US, particularly Brazil and Canada (US$75m).
coin flows
Naturally, bitcoin-based products saw the largest share of inflows last week with $71 million. It was the highest amount seen since the beginning of December, and contributed significantly to the $108 million run over the past three weeks. However, bitcoin investment product volume remained at a low of $1.8 billion last week, compared to $3.4 billion a week ago.
On the other hand, the inflow of investment products for Ethereum continued its negative streak last week, with an outflow of $8.5 million, indicating that investors are in a bearish state. Nine consecutive weeks of outflows now total $280 million, representing 2.2% of AUM. However, several altcoins had reputational inflows such as Solana, Polkadot and Cardano with $2.4 million, $2.2 million and $1.1 million respectively. Notably, Terra saw its first significant inflow last week of $1.4 million, which was 26% of AuM.
Crypto investment products started the year in the midst of several weeks of outflows, representing a more general hemorrhage of the crypto markets. When the tide turned two weeks ago with an inflow of $14 million, it broke a chain of outflows that totaled $532 million. Inflows continued last week, though weakly, with another $19 million. Despite being so small, the report said it “continues to suggest that investors are beginning to add caution to positions at these depressed price levels.”
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