Investors show growing confidence in digital assets with USD90m inflows
Digital asset investment products saw inflows of USD90 million last week, marking the seventh consecutive week of inflows totalling USD411 million, according to the latest CoinShares Digital Asset Fund Flows Weekly report.
Bitcoin saw inflows of USD69 million last week. We believe this decisive turnaround in sentiment is due to growing confidence in the asset class amongst investors.
Ether saw another week of inflows totalling USD20 million although it has conceded market share to Bitcoin in recent weeks, having fallen from a peak of 28 per cent to 25 per cent.
Despite improving inflows across investment products, volumes remain low at USD2.4 billion last week, compared to USD8.4 billion in May 2021.