YTD digital asset inflows rise to $17.8B, breaking 2021 record

Amid continued price weakness over the past week, digital asset investment products saw significant buying activity, with inflows reaching $1.44 billion over the period. This brought year-to-date (YTD) receipts to a whopping $17.8 billion, breaking the previous record set three years ago.

However, despite this strong entry, 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 Entries

Bitcoin continued to dominate the charts, achieving the fifth largest weekly entry on record with $1.35 billion. On the other hand, short bitcoin products saw significant outflows, with an outflow of $8.6 million. This was the biggest weekly outflow since April.

In the latest edition of CoinShares’ latest weekly report on digital fund flows, the asset manager attributed the increase in inflows to investors taking advantage of price weakness, partly influenced by German government BTC sales and a change in sentiment due to lower than expected impact. US CPI data.

Among altcoins, Ethereum stood out as it attracted $72 million in inflows. Interestingly, the entry figure was the highest since March and is likely driven by anticipation of the potential approval of a cash 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.

In addition, Litecoin, XRP and Cardano attracted $1.2 million, $1 million and $0.7 million in weekly inflows, demonstrating strong investor interest in a wide range of digital assets despite a decline in wider market.

Positive feeling around the world

Regionally, the United States continued to lead with $1.3 billion in receipts for the week. CoinShares said positive sentiment was seen 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 receipts of $11.7 million, $5.8 million, $1.6 million, and $1.3 million, respectively.

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