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Digital Asset Investment Products Witness $862M Inflows Amid Market Moderation
According to CryptoPotato, digital asset investment products saw a positive shift in sentiment in the last week of March, with inflows reaching $862 million. This nearly recovers from the previous week’s record outflows of $931 million. Despite this rebound, ETF activity appears to be slowing down, with the daily trading turnover now at $5.4 billion, a 36% decline from its peak three weeks ago. However, this figure is still significantly higher than the 2023 average of $347 million, indicating a moderation in the initial market frenzy.
Bitcoin led the pack with inflows of $865 million last week, according to CoinShares’ Digital Asset Fund Flows Weekly Report. This was largely driven by renewed interest from new ETF issuers in the US, contributing $1.8 billion in inflows. This was offset by Grayscale’s outflows of $967 million. Short-bitcoin products saw outflows for the second consecutive week, totaling $2 million. Ethereum continued its negative streak with its fourth consecutive week of outflows, amounting to $19 million. This trend is often observed following network upgrades, suggesting investor caution.
Altcoins experienced inflows totaling $18.3 million last week, with Solana leading with $6.1 million in inflows. Other altcoins seeing inflows included Filecoin, Polkadot, and Chainlink, with inflows of $3.9 million, $2.4 million, and $1.9 million, respectively. Investment products for Cardano, XRP, and Litecoin also noted modest inflows of $1.1 million, $0.3 million, and $0.2 million, respectively.
With respect to regions, the divergence persists. The US experienced inflows of $897 million. Switzerland recorded the highest weekly outflows of $15.6 million, followed by Germany with $10.5 million and Sweden with $2.4 million. Europe and Canada collectively witnessed outflows of $49 million over the past week, bringing its year-to-date outflows to $785 million. Meanwhile, Brazil and Australia saw inflows of $2.9 million and $1.4 million respectively.
Bitcoin led the pack with inflows of $865 million last week, according to CoinShares’ Digital Asset Fund Flows Weekly Report. This was largely driven by renewed interest from new ETF issuers in the US, contributing $1.8 billion in inflows. This was offset by Grayscale’s outflows of $967 million. Short-bitcoin products saw outflows for the second consecutive week, totaling $2 million. Ethereum continued its negative streak with its fourth consecutive week of outflows, amounting to $19 million. This trend is often observed following network upgrades, suggesting investor caution.
Altcoins experienced inflows totaling $18.3 million last week, with Solana leading with $6.1 million in inflows. Other altcoins seeing inflows included Filecoin, Polkadot, and Chainlink, with inflows of $3.9 million, $2.4 million, and $1.9 million, respectively. Investment products for Cardano, XRP, and Litecoin also noted modest inflows of $1.1 million, $0.3 million, and $0.2 million, respectively.
With respect to regions, the divergence persists. The US experienced inflows of $897 million. Switzerland recorded the highest weekly outflows of $15.6 million, followed by Germany with $10.5 million and Sweden with $2.4 million. Europe and Canada collectively witnessed outflows of $49 million over the past week, bringing its year-to-date outflows to $785 million. Meanwhile, Brazil and Australia saw inflows of $2.9 million and $1.4 million respectively.
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