CoinShares announces a sharp rise in investor enthusiasm for digital assets, with a $125 million influx over the past week. The overall inflows over the past two weeks came to $334 million, or just under 1% of the total assets under management (AuM).
With a significant $123 million inflow over the past week, Bitcoin continues to be the top pick for investors. Following a net outflow of $171 million just two weeks earlier, bitcoin investment products have since recovered to a net inflow for the year as a whole. Despite the recent price increase, short-Bitcoin investment products saw outflows for the tenth week running, accounting for 59% of AuM.
However, short Bitcoin is the second-best performing asset in terms of year-to-date inflows, at $60 million. In terms of altcoins, Ethereum tops the pack with $2.7 million in inflows, followed by Cardano, Polygon, and XRP. Multi-asset and Solana experienced small withdrawals of $1.8 million and $0.8 million, respectively.
Blockchain equities have also seen a rebound, with inflows of $6.8 million following a 9-week streak of outflows. The increase in digital asset investment and blockchain equities reflects increased investor confidence in the crypto business.
During the week, overall AuM reached $37 billion, matching the highest level since early June 2022 and the 2022 average AuM. Trading activity remained solid, with a weekly volume of $2.3 billion, which is significantly higher than the year-to-date average of $1.5 billion.