Digital Assets See Strong Inflows: Bitcoin and Ether Lead

• The crypto investment products have seen a notable inflow of $185 million over the past week.
• Bitcoin has experienced $148 million in inflows in a week and $1.9 billion in one month.
• While most inflows were from the US, Switzerland boasts second place in asset investment products inflows.

According to CoinShares report , digital asset investment products experienced four consecutive weeks of inflows, with Bitcoin leading the pack. These products marked a total inflow of $185 million over the week, with Bitcoin accounting for the major share of $148 million.

Notably, the products saw substantial positive flows in May 2024, reaching $2 billion. Year-to-date inflows have surpassed $15 billion, with the Assets Under Management (AUM) reaching $97 billion.

While Bitcoin recorded a weekly inflow of $148 million, its monthly inflow totaled $1.9 billion. Meanwhile, Bitcoin’s year-to-date inflow is $14.7 billion.

Source: CoinShares  

The United States reported the highest inflows, with a net inflow of $130 million within a week. Switzerland, though far behind, was second with an inflow of $36.8 million. Canada was third with inflows of $25 million despite a net outflow of $39 million in May.

Ether saw increasing inflows following the SEC’s initial approval of Spot Ether ETFs. These ETFs are expected to launch in July 2024. The increasing inflows indicate a diverging trend in investors. As a result, Ethereum had a weekly inflow of $33.5 million.

In third place is Solana, with a weekly inflow of $5.8 million. Other assets, including XRP, Litecoin, and Cardano, had smaller inflows of $0.8 million, $0.6 million, and $0.3 million, respectively. However, Short Bitcoin saw a notable outflow of $3.5 million.

Among asset providers, Grayscale Investments led the outflows with $260 million. iShares’ ETFs topped inflows with weekly and monthly flows of $298 million and $1.17 billion, respectively.