BTC Investment Products Attract Largest Weekly Inflows since December 2021

With weekly institutional inflows of $95 million, Bitcoin (BTC) investment products dominated the crypto market last week. Despite the reason that BTC failed to retain the price level of $40k in the last week, institutional Bitcoin investors showed immense support with large investments throughout the week.

BTC’s $95 million inflows last week indicate its highest weekly level since early December 2021. In contrast, Ethereum witnessed a turnaround. With nearly $25 million in weekly inflows, Ethereum saw its largest inflow in 13 weeks.

Altcoins presented a mixed picture recently. As investors shifted their focus towards the top 2 digital currencies, altcoins like Solana and Polkadot saw outflows worth $1.7 million and $0.9 million, respectively. However, some of the altcoins, including Litecoin, Cardano and XRP witnessed decent weekly inflows.

“Digital asset investment products saw inflows of US $127m last week, an uptick to on the previous week, suggesting investors remain supportive of digital assets despite the recent geopolitical events. In a similar manner to the previous week, the positive sentiment was centered in North America with inflows totaling US$151m versus outflows in Europe totaling US$24m,” CoinShares outlined in its weekly digital asset fund flows report.

Global Crypto AUM

The total value of global cryptocurrency assets under management stayed above $50 billion in the last week. BTC and ETH accounted for nearly 90% of the total crypto AUM. The digital asset management firms in North America dominated the global crypto ecosystem. Additionally, Grayscale remained at the top with approximately $34 billion worth of digital AUM.

“Multi-asset investment products continued to see inflows which totaled $8.6 million last week. On a relative basis, multi-asset has seen the most inflows year-to-date, totaling $104 million, representing 3.6% of assets under management. Blockchain equities saw inflows worth $7.7 million last week,” the report added.