Digital Asset Investment Products Register Record $326M in Inflows, Led by Bitcoin and Solana
Digital asset investment funds saw a record $326 million in net outflows last week, marking the largest single week of inflows since July 2022.
According to a recent report by CoinShares, the surge in investor interest can be attributed to growing optimism surrounding the potential approval of a spot-based Bitcoin exchange-traded fund (ETF) by the US Securities and Exchange Commission (SEC).
“Month-to-date inflows are now close to half a billion dollars,” the report said, noting that this indicates an increase in investor confidence.
While the weekly inflow is undoubtedly positive for Bitcoin, it is worth noting that it ranks as only the 21st largest on record, suggesting that investors are still exercising caution.
However, industry experts believe that the approval of a spot-based Bitcoin ETF in the coming months is highly likely.
Such an approval would represent a significant regulatory milestone for the industry and potentially drive further investment.
Regionally, the United States accounted for only 12% of the inflows, with $38 million, as investors eagerly await the potential launch of the spot-based ETF.
The major contributors to the inflows were Canada, Germany, and Switzerland, with inflows of $134 million, $82 million, and $50 million, respectively.
Interestingly, Asia also witnessed a surge in weekly inflows, reaching $28 million.
With total assets under management now standing at $37.8 billion, the highest since May 2022, the digital asset market is experiencing substantial growth.
Bitcoin dominated the inflows, capturing 90% of the total at $296 million.
However, the recent price surge also prompted $15 million in inflows into short-Bitcoin investment products, reflecting the hedging strategies employed by some
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