In the ever-evolving world of digital assets, investment products have witnessed a positive trend over the past two weeks, according to CoinShares’ latest Digital Asset Fund Weekly Flow Report. While Bitcoin led this, 4 altcoins also saw entry. On the other hand, there was a significant exit from short Bitcoin and an altcoin.
Bitcoin continues to be popular with investors
According to the report, these products received a total of 125 million dollars inflows for the second week in a row. Combined with the previous week’s entries, the total amount invested in digital asset products reached $334 million. This represents just under 1% of total assets under management (AuM). However, it marks a notable increase in investor interest.
It is possible to attribute the increase in entries to Bitcoin’s continued popularity among investors. The leading cryptocurrency received a significant portion of these inflows amounting to $123 million. In fact, Bitcoin has accounted for an astonishing 98% of all digital asset flows over the past two weeks. It should be noted that Bitcoin investment products have experienced a significant change in sentiment this year. They’ve reverted from $171 million net outflow just two weeks ago to year-to-date net inflows now. This return in investor sentiment highlights Bitcoin’s resilience and appeal as a long-term investment.
On the other hand, short Bitcoin investment products continued to see a total outflow of $0.9 million. This marks the tenth consecutive week of release for these products. Short-Bitcoin investments have been surrounded by a bearish trend lately. Despite this, these products remain the second best-performing asset in terms of inflows to date, with $60 million.
These 4 altcoin projects also managed to attract funds
While Bitcoin remains the primary focus, a number of altcoins have also registered small inflows. Leading altcoin Ethereum (ETH) took the lead, with a total of $2.7 million in entries. Other altcoins such as Cardano (ADA), Polygon (MATIC), and Ripple (XRP) have also seen modest inflows from investors. However, multi-asset and Solana experienced minor exits of $1.8 million and $0.8 million, respectively.
In addition to digital assets, Blockchain stocks have also witnessed a positive turn. After nine consecutive weeks of debuts, there was $6.8 million in entry. This shift demonstrates a renewed confidence in the potential of Blockchain technology and its applications in various industries.
Recent price increases have been effective in entries, confidence is increasing!
It is possible to attribute the recent increase in managed assets primarily to the price increase in digital assets. Over the past week, total assets under management reached $37 billion. Thus, it marked the highest point since the beginning of June 2022. This level also matches the average assets managed for the full year 2022. The report also highlights that trading activity in digital assets remains strong with a weekly trading volume of $2.3 billion. This figure reveals the continued interest and activity in the digital asset market. In addition, the year-to-date average exceeds $1.5 billion.
As the digital asset market continues to evolve and attract new investors, it is essential to monitor these trends closely. Recent inflows into these investment products, coupled with the resurgence of Bitcoin and the shift in sentiment towards Blockchain stocks, reflect growing confidence in the long-term potential of these assets. It is not yet clear how these trends will develop in the coming weeks. However, for now, digital assets seem to have started to attract attention and reveal their value in the investment world.
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