1 year ago
78 Based on Data from CoinShares, digital asset investment products saw $117 million in inflows in the past week.
On January 30, European crypto investment company CoinShares published its “Digital Asset Fund Flows Report.” The report revealed that digital asset investments recorded a surge in inflows in the past week, reaching $117 million, the highest figure since July 2022.
CoinShares reported that the industry’s total assets under management increased to $28 billion, a 43% growth from its November 2022 lows. This improvement in investment product volumes was evident, with $1.3 billion traded during the week, a 17% surge compared to the year-to-date average. In the meantime, weekly volumes in the digital asset market have increased by an average of 11%.
Germany recorded the largest inflows in the past week, accounting for 40% of the total ($46 million), followed by Canada, the US, and Switzerland, which got $30 million, $26 million and $23 million, respectively. A majority of the inflows were directed toward Bitcoin (BTC) products, with $116 million, while minor inflows were recorded into short-Bitcoin products at $4.4 million, representing a polarized opinion.
The same report revealed that multi-asset investment products continued to see lots of outflows for the ninth straight week, reaching $6.4 million.
Based on the statement by the head of research at CoinShares, James Butterfill, it only suggests that investors are choosing to go for more selective investments. That trend was evident in altcoins like Cardano (ADA), Solana (SOL), and Polygon (MATIC) saw inflows, while Bitcoin Cash (BCH), Uniswap (UNI), and Stellar (XLM) saw minor outflows.
Investors also showed some strong interest in blockchain equities, with inflows reaching $2.4 million. Nevertheless, a closer examination reveals that sentiment remains highly divided across the providers.
In general, the digital asset market saw considerable growth in the past week, with investment products seeing record inflows and enhanced volumes. The general trend means that investors are becoming highly selective in their investments, with a divided sentiment toward blockchain equities.
