Digital asset inflows reached $2.7 billion, with Bitcoin accounting for as much as 83% of the inflow share, while Ethereum and Solana also drew significant attention.
By Godfrey Benjamin
Editor Hamza Tariq
Updated
3 mins read
CoinShares has released its “Digital Asset Fund Flows Weekly Report,” which shows that inflows into crypto funds topped $2.7 billion this past week.
This outlook is quite notable, considering that it is the 11th consecutive week of inflows. Interestingly, Bitcoin BTC $107 469 24h volatility: 0.7% Market cap: $2.14 T Vol. 24h: $19.36 B and Solana SOL $150.8 24h volatility: 0.9% Market cap: $80.60 B Vol. 24h: $3.60 B are among the assets driving this positive momentum.
Digital asset funds and products recorded $2.7 billion in inflows this past week. This brings the first half totals to $16.9 billion, which is quite close to last year’s level of approximately $17.8 billion. This performance is a clear reflection of the resilient demand for crypto products amongst institutional clients.
CoinShares attributed this strong demand to a combination of factors, including heightened geopolitical volatility and uncertainty surrounding the direction of monetary policy.
Most of the inflows originated from the United States, with other regions, such as Switzerland and Germany, accounting for only a minor percentage of the inflows.
US, Switzerland, Germany, Canada, Hong Kong, and Brazil saw inflows of $2.65 billion, $23 million, $19.8 million, $13.6 million, $2.3 million, and $2.4 million, respectively. Unfortunately, Hong Kong is still battling consistent outflows, which totaled $132 million in June.
Out of all the listed digital assets, Bitcoin led by a whopping 83%. The top coin outperforms others, including Ethereum ETH $2 462 24h volatility: 0.5% Market cap: $297.36 B Vol. 24h: $14.41 B , by about 17%.
The flagship crypto attracted up to $2.2 billion in inflows last week. Short-Bitcoin investment products are quite far from this reality, recording $2.9 million in outflows. This brings Year-to-date (YTD) outflows to a total of $12 million.
There is a general positive sentiment towards Bitcoin this year, evidenced by the intense push of institutional clients towards BTC adoption.
Metaplanet and Strategy made some notable purchases of the flagship coin last week, further reinstating their confidence in the future outlook of the coin.
Based on this engagement with the coin, its inflows have remained consistent in the last few months.
Ethereum’s inflows for the same week were capped at $429 million, with YTD inflows now at $2.9 billion. This indicates that investors remain quite bullish on the top altcoin. On the other hand, Solana saw only $91 million in inflows YTD while its weekly inflows were capped at $5.3 million.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
