The fifteenth straight week of inflows into digital asset investment products totaled $306 million, according to CoinShares weekly report.
This amount brings month-to-date inflows to $787 million, and year-to-date inflows to a record $9.5 billion. However, total assets under management (AuM) fell from $75.4 billion to $72.8 billion due to persistent price pressures.
Once against, Bitcoin-based investment products saw the largest amount of inflows. Due to the launch of another investment product in Europe, inflows totaled at $247 million, the most seen in five weeks. This brings the streak of inflows to 11 weeks, which now amounts to $2.7 billion.
As usual, Ethereum-based products saw the second most amount of inflows totaling $23 million during its fifth consecutive week of inflows. Among other altcoins, Polkadot and Solana were among the largest recipients of inflows relative to AuM. Last week, inflows in the case of the former were 8.6% ($11.5 million) of AuM, while 5.9% ($14.6 million) in the case of the latter.
Meanwhile, inflows for multi-asset investment products totaled at $9.1 million last week. They also represent the third-largest investment product by AuM at $4.6 billion.
Notably, CoinShares began tracking Blockchain equity ETPs just over the past week. Inflows last week amounted to $20 million, which brought YTD inflows to $2 billion, and AuM to $3.7 billion. “On a proportional basis this inflow is roughly half (6.4% of AuM) the inflows seen in pure-crypto related ETPs (13.1% of AuM),” the reports surmises.
This past week’s total amount of inflows roughly doubled that of the week prior, when investments in digital asset-based products amounted to $154 million. This figure had put it roughly on par with the week before that, even though Bitcoin had been struggling during that time.
Despite the dip, Bitcoin-based products continued to see a majority of the inflows, which amounted to $114 million. Meanwhile, Ethereum-based products saw inflows amounting to $14 million during their fourth consecutive week of inflows.
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.