Cryptocurrency asset management company CoinShares reported on Monday (13th) that digital asset investment products saw approximately $293 million in net inflows last week, surpassing the $1 billion mark for 7 consecutive weeks, bringing the year-to-date net inflows to $1.14 billion, the third highest annual inflow in history.
Due to these inflows and recent price increases, the total assets under management (AuM) of digital asset investment products grew by 9.6% in the past week and 99% since the beginning of the year. The current AuM is $44.3 billion, the highest level since major cryptocurrency funds collapsed in May 2022.
CoinShares noted that Bitcoin ETP trading volume accounted for 19.5% of the total Bitcoin trading volume on reputable exchanges, a rare occurrence indicating increased investor participation in this rebound compared to 2020/21.
Bitcoin investment products saw $240 million in net inflows last week, bringing the year-to-date net inflows to $1.08 billion, while short Bitcoin investment products saw $7 million in net outflows, indicating continued market optimism.
Ethereum investment products saw the largest net inflow of $49.1 million since August 2022, and data from the past two weeks indicates a true turnaround in market sentiment, possibly related to the recent filing of applications for Ethereum spot ETFs by institutions. Solana investment products also saw further net inflows, totaling $12.4 million.