Digital asset inflows reach record high year-to-date
|- Digital asset investment inflows saw a three-week consecutive rise, totaling $1.05 billion.
- Cumulative flows have hit an all-time high of $14.9 billion for the year.
- The majority of inflows come from US Bitcoin ETFs at $1.01 billion.
CoinShares' weekly digital asset flows, released on Tuesday, reveal that digital assets recorded a three-week consecutive rise in inflows, amounting to a record high of $14.9 billion already this year.
Read more: Digital asset weekly inflows jump over 600% following response to CPI report
Bitcoin ETPs lead inflows
CoinShares weekly digital asset fund flow shows that crypto assets have recorded three weeks of consistent inflows, amounting to $1.05 billion at the end of last week. This feat, preceded by five weeks of consistent outflows, has seen total inflows reach an all-time high of $14.9 billion year-to-date.
Bitcoin Exchange Traded Products (ETPs) continued to lead the way for inflows, amassing a net inflow of $1.01 billion. Inflows in other products such as Ethereum ETPs rose to $36 million — highest since March — which may have been triggered by the approval of spot ETH ETF 19b-4 filings last week.
Total worth of digital assets ETPs grew to $98.5 billion — pushed by rising prices across cryptocurrencies — with a weekly trading volume of $13.6 billion.
Also read: Bitcoin ETFs hit new milestone as crypto community awaits price surge
The United States Bitcoin ETFs largely dominated inflows, with a collective inflow of $1.01 billion, spearheaded by BlackRock's iShares and Fidelity Bitcoin ETFs.
Countries like Switzerland and Germany also continue to attract impressive inflows, recording $48 million and $30 million in the past week, respectively. Canada saw more outflows this past week, with Hong Kong ETFs continuing their disappointing run with outflows of $29 million.
Bitcoin ETFs worldwide also hit a milestone on Monday, amassing 1 million BTC in combined holdings.
Read more: Week Ahead: Checking the health of Bitcoin’s bull run
The global digital asset ETF market may see huge expansion with the potential launch of spot ETH ETFs when the SEC approves S-1 applications.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.