Digital asset investment products saw inflows amounting to $293 million over the past week. This extended a seven-week streak of inflows surpassing the $1 billion milestone. Year-to-date inflows now stand at $1.14 billion, marking the third-highest annual inflows on record.
Ethereum witnessed a massive turnaround in sentiment, welcoming its largest inflow since August 2022 of $49 million.
According to CoinShares’ report, the last two weeks signified a “real turn” around in sentiment for Ethereum, potentially related to the recent spot-based ETF listing request in the United States.
Among the altcoins, Solana also saw inflows totaling $12 million, while Cardano settled with $0.8 million.
Litecoin and XRP, on the other hand, recorded outflows of $0.3 million and $3.1 million, respectively.
Trading volumes of Bitcoin Exchange-Traded Products (ETPs) accounted for up to 19.5% of the total trading volumes on trusted exchanges, according to the asset manager’s report, which noted such an occurrence is rare and implies that ETP investors are actively engaging in this rally compared to 2020-2021.
Meanwhile, Bitcoin witnessed inflows amounting to $240 million over the same period, contributing to year-to-date inflows reaching $1.08 billion.
Additionally, short Bitcoin positions experienced outflows of $7 million, indicating a sustained positive sentiment in the market.
Due to these inflows and the recent increase in prices, total assets under management (AuM) have surged by 9.6% in the past week and have seen a 99% increase since the start of the year.
The current total AuM stands at $44.3 billion, reaching its highest level since the significant failures of major crypto funds in May 2022.
The post Digital Asset Investments Hit $1.14 Billion YTD: CoinShares appeared first on CryptoPotato.
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