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Volume 177: Digital Asset Fund Flows Weekly Report

From CoinShares Research Blog by James Butterfill

Further US$646m inflows, but signs of ETF hype moderating

  • Digital asset investment products saw continued positive sentiment with inflows totalling US$646m last week. inflows year-to-date at US$13.8bn are at their highest ever level.
  • Bitcoin remains the focus, seeing inflows totalling US$663m, while short-bitcoin investment products saw outflows for the 3rd week in a row totalling US$9.5m.
  • Ethereum saw outflows for the 4th consecutive week totalling US$22.5m. This was in contrast to most other altcoins which continue to see inflows.

Digital asset investment products saw continued positive sentiment with inflows totalling US$646m last week. inflows year-to-date at US$13.8bn are at their highest ever level, now far surpassing the US$10.6bn seen in 2021. Despite this, there are signs that appetite from ETF investors is moderating, not achieving the weekly flow levels seen in early March, while volumes last week declined to US$17.4bn for the week compared to US$43bn in the first week of March.

Regionally, sentiment remains polarised. The US saw a further US$648m inflows, along with Brazil, Hong Kong and Germany seeing inflows of US$10m, US$9m and US$9.6m respectively. While Switzerland and Canada saw outflows of US$27m and US$7.3m respectively.

Bitcoin remains the focus, seeing inflows totalling US$663m, while short-bitcoin investment products saw outflows for the 3rd week in a row totalling US$9.5m, suggesting minor capitulation amongst bearish investors.

Ethereum saw outflows for the 4th consecutive week totalling US$22.5m. This was in contrast to most other altcoins which continue to see inflows. Notable were Litecoin, Solana and Filecoin, seeing inflows of US$4.4m, US$4m and US$1.4m respectively.

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