Crypto Investment Products See $326M Inflows, Largest Since July 2022
Crypto Investment funds saw $326 million of net inflows last week, the highest weekly total since July 2022, according to new data from CoinShares. The surge follows building optimism around a potential US spot bitcoin ETF approval.
Key details from the report:
- The $326 million weekly inflow ranks as the 21st largest on record, signaling ongoing investor caution.
- But sentiment is improving on the chances of a spot bitcoin ETF launch in the coming months.
- Bitcoin captured 90% of inflows, with $296 million added last week.
- Total crypto investment product assets under management (AUM) have recovered to $37.8 billion, their highest since May 2022.
Where Are Funds Flowing From?
Only 12% of the latest inflows came from the US, amounting to $38 million. Presumably, US investors remain on the sidelines pending a spot bitcoin ETF approval.
Canada, Germany, and Switzerland saw the largest inflows at $134 million, $82 million, and $50 million, respectively. Asia also contributed a notable $28 million.
Bitcoin was the prime beneficiary of the improved sentiment, garnering 90% of total inflows. However, rising prices also led to $15 million flowing into short bitcoin products.
In altcoins, Solana saw $24 million of inflows. But other major altcoins like Ethereum continued to see outflows, with $6 million exiting ETH funds last week.
CoinShares believes spot bitcoin ETF approval is increasingly likely in the US in the coming months. This would mark a major regulatory milestone and could ignite significantly larger investment inflows.
For now, investors appear cautiously optimistic, with inflows mounting but still well below previous peaks. Bitcoin remains the prime asset of interest.
While altcoin sentiment ticked up slightly, major assets like Ethereum have yet to see a definitive reversal in fund outflows.
