Digital asset investment products recently experienced a substantial boost with inflows worth $1.1 billion, according to CoinShares Research Blog's latest report written by James Butterfill. These inflows have driven the year-to-date tally up to $2.7 billion. As a result, total assets under management (AuM) are currently at their highest level since early 2022, sitting at $59 billion.
Primarily, the focus was on the newly launched spot-based Bitcoin ETFs in the U.S., which attracted net inflows of $1.1 billion last week. Since launching on January 11th, these Bitcoin ETFs have seen a net inflow of $2.8 billion.
Bitcoin dominated the inflows, accounting for almost 98% of the total, while the price appreciation of Ethereum and Cardano also fueled positive investor sentiment, resulting in inflows of $16 million and $6 million respectively. Other cryptocurrencies such as Avalanche, Polygon, and Tron saw minor inflows totaling $1.3 million.
Slight outflows were recorded from Canada and Germany, amounting to $17 million and $10 million respectively. Switzerland, however, saw an inflow of $35 million last week.
Uniswap and Short-bitcoin investment products saw trivial outflows totaling $0.9 million. Blockchain equities experienced outflows from a solitary issuer amounting to $67 million, but other issuers saw a combined inflow totaling $19 million.
Market observers are monitoring the potential sale of Genesis holdings estimated at $1.6 billion as it could influence further outflows in the ensuing months. The developments highlight the dynamic nature of the digital asset investment landscape.
