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CoinShares reports record high in digital asset investment

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CoinShares writes that digital asset investment products saw inflows for the third consecutive week totalling USD1.05 billion, with cumulative flows representing an all-time record of USD14.9 billion for the year so far.

The majority of inflows were in to bitcoin ETPs, which saw USD1.01 billion of inflows last week, the firm writes.

Ethereum saw inflows of USD36 million for the week, the highest since March and likely an early reaction to the approval of ETH ETFs in the United States, the firm says.

Recent price rises have also pushed total digital asset ETPs to USD98.5 billion. Weekly ETP trading volumes have also risen by 28 per cent to USD13.6 billion.

Regionally, the flows were focussed primarily on the US, which saw USD1.03 billion of inflows, with incumbent Grayscale, seeing outflows subside dramatically to only USD15 million for the week. Germany and Switzerland also saw inflows of USD48 million and USD30 million respectively. CoinShares writes: “Disappointingly, since the initial positive launch of bitcoin spot-based ETFs in Hong Kong, (which saw USD300 million in the first week) there have been further outflows last week of USD29 million.”

The majority of inflows were in to bitcoin ETPS, which saw USD1.01 billion of inflows last week, while short-bitcoin suffered another week of outflows totalling USD4.3 million, suggesting sentiment is turning broadly positive despite the recent price rises, the firm says. This is likely due to investors interpreting the FOMC minutes and recent macro data as mildly dovish.

Solana also saw inflows of USD8 million last week.

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