Digital Asset Investment Products Saw Net Inflows of $2.2B Last Week

Key Points:

• Digital asset investment products saw $2.2 billion in inflows last week, pushing year-to-date inflows to a record $33.5 billion.
• Bitcoin reached new all-time highs with $1.48 billion in inflows, while Ethereum attracted $646 million.

Digital asset investment products saw record inflows last week of $2.2 billion, which brought year-to-date inflows to a high of $33.5 billion, the latest report from CoinShares noted.

Read more: Metaplanet Bitcoin Investment Has Now Surpassed 1,000 BTC

Record-breaking Inflows for Digital Asset Investment Products

That cumulative total of $11.7 billion inflow has been seen since the Federal Reserve started slashing interest rates in September. The surge in the price of Bitcoin to new highs has been at the heart of market dynamics so far and has pushed total AuM to a peak of $138 billion earlier in the week.

However, Bitcoin also saw outflows of $866 million in the latter half of the week as some investors took profit. Bitcoin itself saw net inflows of $1.48 billion, and short Bitcoin products saw inflows of $49 million, which was a mix of bullish and hedging strategies.

Ethereum Attracted $646 Million As Network Scales Up

Ethereum also bucked the negative trend, with inflows of US$646 million, or 5% of its total AuM. This increase is somewhat attributed to the impending upgrade of its network on Beam Chain and general market optimism on the success of the Republican party during the recent U.S. elections. Solana continued its popularity with inflows of $24 million.

Regional trends were mixed. The U.S. led digital asset investment product inflows with $2.2 billion, while Hong Kong saw $27 million, Australia $18 million, and Canada $13 million. In contrast, European markets recorded outflows, as investors in Sweden and Germany pulled out $58 million and $6.8 million, respectively.