Digital asset investment products recorded modest inflows of $48m last week, according to the latest Digital Asset Fund Flows Weekly Report from CoinShares.
While the first half of the week saw nearly $1bn in inflows, the release of fresh macroeconomic data and the US Federal Reserve’s meeting minutes – which signalled a stronger US economy and a more hawkish monetary stance – triggered outflows totalling $940m in the latter half.
This shift indicates the end of the post-US election honeymoon period, with macroeconomic data once again becoming a key influence on asset prices, says CoinShares.
Bitcoin attracted inflows of $214m over the week, but despite seeing the largest outflows among digital assets in the latter half, it remains the best-performing asset year-to-date with total inflows of $799m.
Ethereum, on the other hand, faced the steepest losses, with outflows amounting to $256m. CoinShares attributes this primarily to the broader sell-off in the tech sector rather than any specific concerns with the asset itself.
Conversely, Solana showed resilience, drawing inflows of $15m and avoiding similar pressures.
XRP recorded significant inflows of $41m, largely driven by political and legal developments, reflecting increased optimism ahead of the SEC appeal deadline on 15 January.
Interestingly, altcoins attracted inflows despite weak price performance. Notable examples include Aave ($2.9m), Stellar ($2.7m), and Polkadot ($1.6m).
