CoinShares: Year-to-date inflows into digital asset investment products soar past $13 billion

Digital asset investment products have also maintained an upward trend as the broader market recovers. According to the latest data from CoinShares, capital inflows reached $646 million last week.

As a result, annual inflows so far have reached a record $13.8 billion, far exceeding 2021's $10.6 billion.

ETF craze slows down

This new achievement comes after a strong rebound in digital asset investments at the end of March. Investor sentiment has soared as Bitcoin rallied back above $72,000 as the market braces for this month's much-anticipated Bitcoin halving.

However, the enthusiasm surrounding spot Bitcoin ETFs appears to be waning. In fact, the latest edition of CoinShares Digital Asset Fund Flows shows that weekly inflow levels have not reached the highs seen in early March. Additionally, trading volume fell to $17.4 billion last week from $43 billion in the first week of March.

"Nonetheless, there are signs that ETF investor interest is stabilizing, failing to reach the weekly inflow levels seen in early March."

Additionally, the Singapore-based asset manager further revealed that investor sentiment remains polarized from a regional perspective.

The United States attracted a total of $648 million in additional inflows during the week. Investors in Brazil, Hong Kong and Germany saw a similar trend, bringing in inflows of $10 million, $9 million and $9.6 million respectively. On the other hand, Switzerland and Canada saw weekly outflows of $27 million and $7.3 million respectively.

Selling by bearish investors

Bitcoin continues to be a major focus for investors, attracting $663 million in inflows over the past week. Meanwhile, short Bitcoin investment products have seen outflows for the third consecutive week, totaling $9.5 million, indicating that bearish investors are experiencing a "small-scale admission of defeat."

Ethereum also suffered four consecutive weeks of outflows, totaling $22.5 million. This is in stark contrast to most other altcoins, which have continued to see inflows over the past week. Notably, Litecoin, Solana, and Filecoin attracted $4.4 million, $4 million, and $1.4 million in inflows respectively.

At the same time, investment products related to Polkadot, Cardano and XRP also achieved small inflows of US$600,000, US$200,000 and US$100,000 respectively.

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