- Digital asset investment products received a total of $261 million in inflows, marking the sixth consecutive week of inflows.
- Short-term Bitcoin also saw $4.5 million in inflows, indicating that some investors see the recent rally as unsustainable.
- Ethereum, which has experienced outflows totaling $107 million this year, saw an impressive $17.5 million inflow, the highest since August 2022.
Bitcoin and crypto investment products witnessed a significant influx of money last week, highlighting the continued strong demand for Bitcoin!
Inflows Into Bitcoin and Crypto Investment Products
Digital asset investment products received a total of $261 million in inflows. This marks the sixth consecutive week of inflows, representing a total of $767 million in inflows to date. This inflow streak surpasses the $736 million total inflow seen in 2022. It matches the July 2023 inflow streak and is the largest inflow seen since the end of the bull market in December 2021.
U.S. investors are joining in, outpacing other regions with a total of $157 million in inflows. Germany, Switzerland, and Canada continue to see inflows of $63 million, $36 million, and $9 million, respectively.
Bitcoin received a total of $229 million in inflows, particularly supported by the increased probability of a U.S.-based spot ETF and questioning the impact of weaker-than-expected macro data with $842 million in inflows year-to-date. Short-term Bitcoin also saw $4.5 million in inflows, suggesting that some investors see the recent rally as unsustainable.
Is there an inflow into altcoins?
Ethereum, which experienced outflows totaling $107 million this year, saw an impressive $17.5 million in inflows, the highest since August 2022. Other alternative cryptocurrencies like Solana saw a total of $11 million in inflows, while Chainlink represented 17% of total assets under management with $2 million in inflows. Polygon and Cardano also saw inflows of $0.8 million and $0.5 million, respectively.
