June 26 (Cointime) - Digital asset investment products saw the largest single weekly inflows since July 2022, totaling US$199m, correcting almost half of the prior 9 consecutive weeks of outflows. Bitcoin was the primary beneficiary, seeing US$187m inflows last week, representing 94% of the total flows. Short-Bitcoin saw outflows for the 9th consecutive week totaling US$4.9m.
This turn in sentiment didn’t trickle down to altcoins with only very minor inflows into XRP and Solana totaling US$0.24m and US$0.17m respectively. But the improved sentiment did encourage some investors to buy multi-asset investment ETPs, with US$8m inflows last week.
Digital asset investment products have seen a surge in trading volumes, which were 170% the average this year, totaling US$2.5bn for the week. Total assets under management (AuM) are now at US$37bn, their highest since before the collapse of 3 Arrows Capital.
Bitcoin was the primary beneficiary, seeing US$188m inflows last week, representing 94% of the total flows. Short-Bitcoin saw outflows for the 9th consecutive week totaling US$4.9m, with all 9 weeks’ outflows representing 60% of total AuM.
Ethereum saw inflows of US$7.8m, representing just 0.1% of AuM relative to Bitcoin’s inflows at 0.7%, suggesting appetite for Ethereum is lower than Bitcoin at present.
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