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Volume 182: Digital Asset Fund Flows Weekly Report

From CoinShares Research Blog by James Butterfill

First inflows in 5 weeks totalling US$130m, hesitant Ethereum investors

  • Digital asset investment products saw inflows for the first time in five weeks totalling US$130m.
  • Regionally, the US saw the majority of inflows totalling US$135m, with incumbent Grayscale seeing the lowest weekly outflows since January.
  • Low interaction by the US regulators with ETF issuer applications for a spot Ethereum ETF have increased speculation that the ETF approval is not imminent, this has been reflected in outflows which totalled US$14m last week.

Digital asset investment products saw inflows for the first time in five weeks totalling US$130m. ETP volumes continue to subside though, with US$8bn for the week compared to US$17bn average in April. These volumes highlight ETP investors are participating less in the crypto ecosystem at present, representing 22% of total volumes on global trusted exchanges relative to 31% last month.

Regionally, the US saw the majority of inflows totalling US$135m, with incumbent Grayscale seeing the lowest weekly outflows since January totalling US$171m. Switzerland saw inflows of US$14m.

Hong Kong, after a prior week of record inflows saw just US$19m inflows, suggesting the majority of the first week post Bitcoin ETF launches were seed capital. Canada and Germany continued to see outflows totalling US$20m and US$15m respectively with their year-to-date outflows now totalling a combined US$660m.

Bitcoin saw US$144m inflows recovering what has been a weak month so far. Short-bitcoin ETPs saw outflows totalling US$5.1m, bringing the last 8 weeks of outflows to US$18m.

Low interaction by the US regulators with ETF issuer applications for a spot Ethereum ETF have increased speculation that the ETF approval is not imminent, this has been reflected in outflows which totalled US$14m last week.

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