Crypto products gain $176m in one week amid market growth

Last week, the inflow of investment products into digital assets reached $176 million, the most significant number since October 2021.

This marked the 10th consecutive week of inflows totaling $1.76 billion, or 4% of assets under management (AuM), according to a CoinShares report.

The inflow of assets into crypto funds was the largest since October 2021, when a crypto futures ETF was launched in the United States.

Crypto products gain $176m in one week amid market growth - 1
Crypto assets inflow | Source: CoinShares

Additionally, total AuM is up 107% this year, but at $46.2 billion, it remains well below the all-time high of $86.6 billion seen in 2021, according to analysts. ETP trading volumes remain high at $2.6 billion weekly, representing 12% of total Bitcoin (BTC) volume.

Bitcoin was the main beneficiary, receiving inflows of $133 million, although short Bitcoin, after three weeks of outflows, saw inflows of $3.6 million last week.

Ethereum (ETH) saw an additional $31 million in inflows last week, bringing this 5-week period to $134 million. For the first time this year, net flows are now positive at $10 million after a long period of negative sentiment.

Blockchain stocks have seen inflows for seven straight weeks, with the latest week’s $17.4 million inflow being the largest since July 2022.

Last week, analysts reported that the inflow of funds into investment products with digital assets amounted to $346 million in a week. In nine weeks, the crypto market received more funds than at the beginning of the bull market in 2021.

Follow Us on Google News


No comments yet. Why don’t you start the discussion?

Leave a Reply

Your email address will not be published. Required fields are marked *