Last week, digital-asset products saw inflows totaling $117 million, the largest since July 2022, according to the crypto investment firm CoinShares. This increased the total asset under management (AuM) to $28 billion, recovering by 43% since the lows of November. Bitcoin-tied investment funds alone recorded $116 million in inflows, while minor inflows into short-bitcoin of $4.4 million were also noted. The surge in Bitcoin prices above $23,000, along with the market recovery in the past few weeks, has made investors cautious, preferring select investments. This is indicated by the continued outflows for the 9th consecutive week in multi-asset investment products that added up to $6.4 million. Altcoins such as Solana, Cardano, and Polygon recorded inflows, while Bitcoin Cash, Stellar, and Uniswap saw minor outflows. Inflows associated with blockchain equities stood at $2.4 million, but there was a “polarized sentiment” when gauging across providers. Investment product volumes were up by 17% compared to the YTD average and are improving, with $1.3 billion traded for the week. The broader digital asset market also witnessed average weekly volumes surge by 11%. Germany recorded the largest inflows in terms of geography, totaling $46 million, followed by Canada, the United States, and Switzerland, with $30 million, $26 million, and $23 million in inflows, respectively.
