Weekly digital asset product inflows total USD354m, says CoinShares
Digital asset inflows continued last week with investment product inflows totalling USD354 million despite a relatively flat, but volatile week from a price perspective, according to the latest data from CoinShares.
The previous three weeks saw some providers experience minor outflows totalling USD174 million, but this now seems to have stopped with no fund providers seeing outflows last week.
Investments remain very bitcoin focused representing 92 per cent of total inflows, while ether saw inflows totalling USD20 million. There was USD8 million in inflows into multi-asset crypto investment products. Despite the increased perceived interest from investors in broadening their scope to other crypto assets, there has been little interest in multi-asset investment products with only USD500 million of assets under management, representing only 1.6% of passive investments. This suggests investors are cautious to broaden their scope outside of bitcoin and ether for now.
Volumes in bitcoin saw the second highest on record last Friday totalling USD22 billion, and USD55 billion for the whole week. Volumes in investment products fell to USD2.9 billion.