Led Bitcoin inflows by $19m- Decoding the details
Inflows into digital asset investment products totaled $30 million last week, while inflows in the previous week were corrected from $12 million to $343 million, CoinShares found in a recently published report.
According to the report, with $343 million inflows into digital asset investment products last week, it represented the largest single week of inflows since November 2021.
Source: CoinShares
With $30 million reported as inflows to digital asset investment products last week, CoinShares noted that this brought the total inflow since the beginning of the month to $394 million and total assets under management (AuM) back to early June 2022 levels of $30 billion.
Source: CoinShares
The king of coins and others
Last week, Bitcoin saw inflows totaling $19 million, with the previous week seeing inflows of $206 million. This represented the largest single week of inflows since May 2022 for the leading cryptocurrency.
In addition, CoinShares noted that last week’s results brought monthly inflows to $221.5 million and year-to-date to $241.3 million.
For context, Bitcoin’s YTD inflows represent 58% of the total YTD inflows of $415 million recorded by all assets assessed by CoinShares in the report.
Last week, Short-Bitcoin recorded inflows of $0.6 million. However, the asset’s assets under management fell 9% from its July 13 peak of $145 million to $133 million due to the positive price action for Bitcoin.
However, for Ethereum, CoinShares found that its total supply in the last week was $8.1 million. The leading altcoin recorded $120 million in inflows in the previous week.
According to the report, this represented the largest single week of inflows since June 2021 and “suggested a turning point in sentiment after a recent 11-week streak of outflows.” With the merger close to materializing, investor interest in the leading alternative is gradually returning, CoinShares stated.
Alt’s performance last week brought the total MTD take to $137 million. This represented a 35% share of the total $393.5 million recorded in MTD inflows for all assets assessed by CoinShares.
Source: CoinShares
The Swiss man loves crypto
According to the report, CoinShares found that most of the inflow in the period under review came from Switzerland.
Last week, 16 million dollars of the total 30 million dollars were recorded as inflows digital asset investment products came from Switzerland. In the previous week, inflows from Switzerland totaled 356 million dollars.
With YTD inflows of $577 million, CoinShares stated that Switzerland still the “favored region for investors in digital assets.” The US and Germany lagged behind with smaller inflows of $9 million and $5 million respectively.
Source: CoinShares
