According to the most recent CoinShares update, digital asset investment products have received a strong inflow of $136 million in the last week. This spike marks the third consecutive week of inflows totaling $470 million, effectively balancing the outflows witnessed in the previous nine weeks.
Bitcoin remains the primary focus for investors, with inflows topping $133 million last week. This pattern demonstrates a strong investor preference for Bitcoin over altcoins. In contrast, short Bitcoin experienced inflows of $1.8 million, marking the 11th consecutive week of withdrawals.
Despite the general rising trend, transaction volume has declined. Last week, investment products totaled $1 billion, down from an average of $2.5 billion over the previous two weeks. This volume drop could be attributed to seasonal factors, as lower volumes are common in July and August.
Ethereum, another major player in the digital asset market, received $2.9 million in inflows last week. However, it has reaped few benefits from rising market sentiment. Inflows over the last three weeks account for only 0.2% of total assets under management (AuM), compared to 1.9% for Bitcoin. Ethereum has had a negative net flow year to year, with outflows reaching $63 million.
Other cryptocurrencies, such as Solana, XRP, Polygon, Litecoin, and Aave, saw inflows as well. Cosmos and Cardano, on the other hand, experienced minimal inflows.Another noteworthy development was the $15 million inflows into blockchain equities for the year.