According to CoinShares: The last week witnessed $346 million worth of inflows into digital asset investment products, marking this as the largest weekly inflow during a consecutive 9-week run. This surge, driven by the anticipation of a US spot-based ETF launch, is the most substantial since late 2021's bull market. Consequently, the combination of price escalation and inflows has pushed up the total Assets under Management (AuM) to $45.3 billion.
In terms of regional contribution, Canada and Germany accounted for 87% of total inflows, while participation from the US remained relatively low, presumably as investors await the ETF launch. The inflow from the US stood at $30 million last week.
Bitcoin alone gained $312 million inflows over the last week, bringing the year-to-date inflows to just over $1.5 billion. Meanwhile, Bitcoin short-sellers saw their third week of outflows, amounting to $0.9 million, resulting in a 61% decrease in AuM from the peak in April 2023. Exchange-Traded Product (ETP) volumes remained significantly above the average, comprising 18% of total spot Bitcoin volumes last week, indicating the growing reliance on ETPs for exposure to this asset class.
Ethereum also saw a turnaround in sentiment, with $34 million inflows noted in the last week, culminating in $103 million over a 4-week run, nearly negating its year's outflows.
Additionally, Solana, Polkadot, and Chainlink witnessed inflows totaling $3.5 million, $0.8 million, and $0.6 million respectively.
