As an experienced analyst, I find these latest figures on digital asset investment products quite intriguing. The consistent inflows totaling $1.05 billion over the past three weeks have contributed to a record-breaking year-to-date cumulative flow of $14.9 billion. This surge in demand is evident in the increasing total digital asset exchange-traded products (ETPs), which now stand at $98.5 billion, and the significant increase in weekly ETP trading volumes to $13.6 billion.
As a researcher studying digital asset investments, I’ve observed an ongoing trend for the past three weeks. Each week has seen substantial inflows into digital asset investment products, amounting to a noteworthy $1.05 billion in the most recent instance. These inflows have significantly added to the year-to-date cumulative flow, which now stands at a record-breaking $14.9 billion.
As a data analyst, I’ve recently come across some intriguing figures from the most recent edition of CoinShares’ Digital Asset Fund Flows Weekly Report. Based on this report, the current price surge has led the total assets under management in digital asset exchange-traded products (ETPs) to reach an impressive $98.5 billion. Moreover, weekly trading volumes for these ETPs have experienced a significant boost, climbing by 28% to an impressive $13.6 billion.
- The majority of inflows were directed towards Bitcoin ETPs, which attracted $1.01 billion, while short-BTC products experienced outflows totaling $4.3 million, indicating a broadly positive sentiment despite recent price hikes.
This shift in sentiment is likely influenced by investors interpreting the FOMC minutes and recent macro data as mildly dovish.
Investment products offering exposure to Ethereum witnessed inflows of $36 million, marking the highest since March. As per the asset manager, this figure was largely driven by early reactions to the approval of spot Ether ETFs in the United States.
The bullish sentiment extended across the altcoins board, with Solana attracting $8 million in inflows last week.
Litecoin also witnessed inflows of $2.8 million during the same period, followed by Chainlink and XRP with $0.6 million and $0.4 million.
On the other hand, Cardano observed weekly outflows of $1.2 million.
In terms of geographical distribution, the majority of inflows were concentrated in the United States, which experienced $1.03 billion in inflows over the past week. Notably, Grayscale witnessed a significant reduction in outflows to just $15 million for the week.
Germany and Switzerland also saw inflows of $48 million and $30 million, respectively.
However, despite the initial enthusiasm surrounding the launch of spot Bitcoin ETFs in Hong Kong, there were disappointing outflows of $29 million last week.
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2024-05-29 08:52