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09/01/24
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Digital Asset Investment Products Recorded Inflows Worth $151 Million Last Week
On January 8, CoinShares published its weekly report on inflows and outflows for digital asset investment products for the last week. It was a good week as they recorded aggregate inflows valued at $151 million.
The firm noted that aggregate inflows since the U.S. SEC filed a lawsuit against Grayscale last year is worth $2.3 billion. Last week, Bitcoin recorded the highest inflow value at $112.6 million, followed by Ethereum at $29.6 million. Ethereum’s inflows over the past nine weeks is worth $215 million, indicating change in sentiment.
Cardano, Avalanche, Litecoin recorded inflows worth $3.7 million, $2 million, and $1.3 million, respectively. Blockchain equites had inflows valued at $24 million. On the other hand, Solana and Short Bitcoin recorded outflows valued at $5.3 million and $900k respectively.
“If many truly believed that launch of the ETF in the US would a “buy the rumour, sell the news” event, we surely would expect to see inflows into short-bitcoin ETPs, instead, outflows over the last 9 weeks have amounted to US$7m,” reads the report.
In terms of region, exchanges in the United States recorded 55% of the inflows at $83.6 million, followed by Germany and Switzerland accounting for 21% ($32.5 million) and 17% ($24.9 million) respectively.
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