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coinshare Volume 164: Digital Asset Fund Flows Weekly Report

A good start to 2024, with US$151m inflows

  • Digital asset investment products saw inflows totalling US$151m in the first week of 2024, bringing the total inflows since the Grayscale vs SEC lawsuit to US$2.3bn.
  • Bitcoin saw the largest share of inflows at US$113m with total inflows over the last 9 weeks representing 3.2% of AuM. Conversely, short-bitcoin saw outflows for the first week of the year totalling US$1m.
  • Blockchain equites have also had a good start to the year, seeing US$24m inflows over the last week.

Digital asset investment products saw inflows totalling US$151m in the first week of 2024, bringing the total inflows since the Grayscale vs SEC lawsuit to US$2.3bn, representing 4.4% of total assets under management (AuM). Despite the spot-based ETF not being launched yet in the US, 55% of the inflows were from US exchanges, with Germany and Switzerland seeing 21% and 17% respectively.

Bitcoin saw the largest share of inflows at US$113m with total inflows over the last 9 weeks representing 3.2% of AuM. Conversely, short-bitcoin saw outflows for the first week of the year totalling US$1m. 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.

Ethereum saw inflows totalling US$29m, with inflows over the last 9 weeks totalling US$215m, a marked turn-around in sentiment. Solana on the other hand, has not had such a good start to the year, with outflows totalling US$5.3m.

Other altcoins that saw notable inflows were Cardano, Avalanche and Litecoin, seeing US$3.7m, US$2m and US$1.4m respectively.

Blockchain equites have also had a good start to the year, seeing US$24m inflows over the last week.

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