- Digital asset investment products saw inflows of about $117 million last week, the largest since July 2022.
- Bitcoin led all digital asset investment product inflows last week with a total of $116 million.
- Total assets under management (AUM) rose to $28 billion, about 43% from the low recorded in November.
Bitcoin The past week has seen more financial inflows, with the cryptocurrency’s benchmark accounting for almost all weekly inflows.
According to a weekly magazine Report Digital asset manager CoinShares shared on Monday that crypto asset investment products recorded inflows of $117 million. It was the biggest week for inflows into digital asset investment products since July 2022.
Bitcoin products saw $116 million in inflows
Bitcoin’s total digital assets are nearly $116 million in product credits. And as the price of Bitcoin rose above $23,000, inflows for short Bitcoin products totaled $4.4 million for the week.
Other CryptocurrenciesEthereum’s credit was $2.3 million and Solana’s was $1.1 million.
However, multi-asset investment products saw outflows of $6.4 million for the ninth consecutive week. Binance and XRP lost $400,000 and $200,000 respectively.
The increase in inflows pushed total assets under management (AUM) above $2.8 billion, a metric up 43% from its November low. Investment products also saw improvement in terms of weekly volumes.
CoinShares reports that $1.3 billion was traded, up 17% compared to the year-to-date average. Volume was high compared to the broader crypto market average of 11%.
In terms of different regions, Germany saw around 40% of the receipts at around $46 million, while Canada, the US and Switzerland saw the next three largest blocks of receipts with $30 million, $26 million and $23 million respectively.