Digital Asset Investment Products Saw $63M Worth of Inflows Last Week, with Inflows in Bitcoin Totalling $39M

​CoinShares, digital asset managers focusing on delivering the most fit-for-purpose crypto investment vehicles to market, recently published its digital asset weekly fund flows report, saying that for the first time in 5 weeks digital asset investment products saw inflows totalling US$63m last week and for the first time in 9 weeks, inflows were seen across all individual digital assets, implying a turnaround in sentiment amongst investors.

Bitcoin saw the most inflows totalling US$39m, with minor updates to the previous weeks' data highlighting a two-week run of inflows now. Ethereum (ETH), the world's second-largest cryptocurrency, saw weekly inflows of $18 million after 3 weeks of outflows. 

Altcoins, such as XRP, Polkadot and Cardano all saw inflows of US$1.2m, US$2.1m and US$0.7m respectively.

However, the report reminds that While there were inflows into multi-digital asset investment products totalling US$0.6m, this was much smaller than previous weeks suggesting investors were less interested in diversification. And although Bitcoin saw  $39 million worth of weekly inflows last week, Bitcoin investment product trading turnover was the lowest since November 2020. A similar observation was seen more broadly across the whole of the Bitcoin ecosystem with volumes down 38% relative to the average for 2021. Bitcoin investment product trading turnover was the lowest since November 2020.