Cryptocurrency asset management company CoinShares stated in a report released on Monday that digital asset investment products returned to net inflows last week, totaling $572 million. Early in the week, concerns over economic growth due to weak U.S. employment data led to $1 billion in outflows from these funds. However, later in the week, after the U.S. government announced it would allow 401(k) retirement plans to invest in digital assets, the market saw an inflow of $1.57 billion.
The trading volume of digital asset ETPs decreased by 23% compared to last month, which CoinShares believes may be due to the current off-season for market trading.
Source: CoinShares
In terms of regional distribution, the United States and Canada recorded net inflows of $608 million and $16.5 million, respectively; Europe continued to be bearish, with Germany, Sweden, and Switzerland collectively recording net outflows of $54.3 million.
In terms of various cryptocurrencies, Ethereum ETP leads the market with a net inflow of $268 million, bringing its total inflow for the year to date to a record high of $8.2 billion. Recent price increases have also driven its assets under management (AUM) to a historical high of $32.6 billion, growing 82% year-to-date.
Bitcoin rebounded with a net inflow of $260 million last week after two consecutive weeks of net outflows; short Bitcoin investment products saw a net outflow of $4 million. In terms of altcoins, Solana, XRP, and Near recorded net inflows of $21.8 million, $18.4 million, and $10.1 million, respectively.
Source: CoinShares
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