- Digital asset investment products saw a significant rebound with $176 million in inflows, reversing recent downtrends
- Ethereum attracted the bulk of these inflows, totaling $155 million last week, marking its highest inflow since 2021
- Total assets under management in these products increased from $75 billion to $85 billion, reflecting a strong market recovery
Hey, did you catch the latest news? It looks like digital asset investments are back with a bang! There’s been a $176 million inflow of funds as investors have taken the opportunity to get in on the action after recent price corrections.
Ethereum is leading the way, while Bitcoin is bouncing back. It’s an exciting time for the crypto world!
Digital Asset Investment Products Surge with $176 Million Inflows
Digital asset investment products are bouncing back big time, with $176 million in inflows as investors take advantage of recent price corrections. Coinshares and its chief research analyst James Butterfill say that Ethereum has been the top performer, benefiting the most from these market dynamics.
Coinshares says it’s seen $176 million in new money flowing into its digital asset funds. They also noted that digital asset investment products have seen a $176 million inflow, reversing recent trends amid a market correction.
The total assets managed by these products, which had dropped to $75 billion because of the correction, have since bounced back to $85 billion.
Butterfill’s report shows that trading activity has been pretty high, with $19 billion in exchange-traded products, which is more than the annual weekly average of $14 billion. Coinshares’ results showed that this rebound in inflows has been pretty widespread, with every region, including the US, Switzerland, Brazil, and Canada, contributing to the positive sentiment.
Ethereum Shines, Bitcoin Shows Positive Turn Amid Market Rebound
Ethereum was the star of the show last week, attracting $155 million in inflows and bringing its year-to-date total to $862 million—the highest since 2021.
Coinshares’ chief analyst, Butterfill, says this surge is down to the recent launch of spot exchange-traded funds in the US. Bitcoin also saw a positive turn, with $13 million in inflows after starting the week with outflows.
It’s worth noting that short Bitcoin exchange-traded products saw their largest outflows since May 2023, totaling $16 million. This has reduced managed assets for short positions to their lowest level this year, which seems to show that a lot of investors are exiting short positions.
Conclusion
In a nutshell, the digital asset market is bouncing back with some pretty impressive inflows, and Ethereum is leading the way.
Bitcoin is also making progress after a slow start. It looks like the market is bouncing back significantly. It’ll be interesting to see how things develop in the coming months!
