YTD Digital Asset Inflows Surge to $17.8B, Shattering 2021’s Record

Amidst continued price weakness throughout last week, digital asset investment products saw significant buying activity, with inflows reaching $1.44 billion during that period. This brought the year-to-date (YTD) inflows to a whopping $17.8 billion, which shattered the previous record set three years ago.

However, despite this strong inflow, CoinShares reported that trading volumes remained relatively low at $8.9 billion for the week, compared to the annual 7-day average of $21 billion.

Bitcoin, Altcoins See Notable Inflows

Bitcoin continued to dominate the charts, securing the fifth-largest weekly inflow on record at $1.35 billion. On the other hand, short-bitcoin products experienced significant outflows, with $8.6 million exiting. This marked the largest weekly outflow since April.

In the latest edition of CoinShares’ latest Digital Asset Fund Flows Weekly Report , the asset manager attributed the surge in inflows to investors capitalizing on price weakness, partly influenced by the German government’s BTC sales and a shift in sentiment due to lower-than-expected CPI figures in the US.

Among altcoins, Ethereum stood out as it attracted $72 million in inflows. Interestingly, the inflow figure was the highest since March and is likely driven by anticipation of the potential approval of a spot ETF in the US. Other altcoins also welcomed positive inflows, with Solana, Avalanche, and Chainlink receiving $4.4 million, $2 million, and $1.3 million, respectively.

Additionally, Litecoin, XRP, and Cardano attracted $1.2 million, $1 million, and $0.7 million in weekly inflows, demonstrating strong investor interest across a diverse range of digital assets despite a wider market slump.

Positive Sentiment Across the Globe

Regionally, the United States continued to lead with $1.3 billion in inflows for the week. CoinShares said that the positive sentiment was observed globally, with Switzerland, Hong Kong, and Canada particularly notable for their inflows of $57.5 million, $54.6 million, and $24.2 million,, respectively. Switzerland achieved a record for this year.

During the same period, Germany, Australia, Sweden, and Brazil recorded weekly inflows of $11.7 million, $5.8 million, $1.6 million, and $1.3 million, respectively.