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CoinShares reports eighth week of inflows into digital assets

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Digital asset investment products saw inflows totalling USD176m last week in a continuation of consecutive weekly inflows that has now lasted eight weeks, according to CoinShares.

ETP share of total crypto volumes is rising, averaging 11 per cent compared to the long-term historical average of 3.4 per cent, and well above the averages seen in the 2020/21 bull market.

Bitcoin continued to dominate, seeing USD155 million inflows, with the last eight weeks of inflows representing 3.4 per cent of AuM.

Digital asset investment products saw inflows totalling USD176 million last week in a continuation of consecutive weekly inflows that has now lasted eight weeks, bringing year-to-date inflows to USD1.32 billion. However, the inflows remain well behind 2021 and 2020, which saw USD10.7 billion and USD6.6 billion respectively. Trading volumes in ETPs have averaged USD3 billion per week, double this year’s average of USD1.5 billion. Interestingly, ETP share of total crypto volumes is rising, averaging 11 per cent compared to the long-term historical average of 3.4 per cent, and well above the averages seen in the 2020/21 bull market.

Regionally, Canada, Germany and Switzerland continued to see inflows of USD98 million, USD63 million and USD35 million respectively, while the US saw outflows from futures-based products totalling USD19 million.

Bitcoin continued to dominate, seeing USD155 million inflows, with the last eight weeks of inflows representing 3.4 per cent of total assets under management. Short-bitcoin saw outflows of USD8.5 million last week. CoinShares comments: “We believe this continued positive sentiment is related to the imminent approval of a spot-based Bitcoin ETF in the US.” 

A wide selection of altcoins saw inflows, most notable were Solana, Ethereum and Avalanche which saw USD13.6 million, USD3.3 million and USD1.8 million respectively. While Uniswap and Polygon saw minor outflows of USD0.55 million and USD0.86 million respectively.

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