- Inflows into digital asset ETPs reached $716 million, with BTC and XRP alone accounting for nearly $600 million.
- ProShares led the movement, while BlackRock’s iShares drained around $105 million.
A current one Message by James Butterfill, head of research at European digital asset manager CoinShares, crypto exchange-traded products (ETPs) recorded $716 million in new inflows last week, following $1 billion inflows the previous week. Butterfill noted that while there were small outflows on Thursday and Friday, they appeared to be in response to U.S. economic data that signaled continued inflation pressures.
Overall, digital investment products saw strong momentum, with recent inflows pushing total assets under management to $180.5 billion, up 8% from November lows, after four weeks of $5.5 billion in outflows.
Bitcoin and ProShares dominate the inflows
Bitcoin-led ETPs were the biggest beneficiaries last week, recording $352 million in inflows, while year-to-date inflows total over $27 billion and assets under management exceed $140 billion.
Ethereum (ETH) funds have invested over $12.9 billion so far this year, including modest inflows of $39 million. While XRP, the fourth-largest token by market cap, saw a significant increase in interest with weekly inflows of $244.7 million, Chainlink (LINK) recorded weekly inflows of $52.8 million, representing 54% of its total AUM.
US-based ProShares led all issuers with weekly inflows of $210 million. Meanwhile, BlackRock’s iShares ETFs, which have quickly become one of the most influential forces in the ETP space, saw modest outflows of $105 million.
Despite the decline, iShares is still the largest asset under management in the sector, with more than $80 billion. Grayscale Investments saw another $7 million in outflows this week, bringing year-to-date outflows to more than $3 billion.
Issuers based in the USA had a more positive development. Fidelity’s Wise Origin Bitcoin Fund had $62 million in inflows, and Bitwise Funds Trust recorded another $14 million.
Most regions showed strong interest in digital investment products, with the US recording $483 million in inflows, followed by Germany with $97 million and Canada with $80.7 million. Sweden was the biggest outlier, recording outflows of $5.6 million, bringing the year-to-date total to $836 million – the highest net outflow of any region this year.
Bitcoin itself is over 91.770 $ traded, supported by one 67% increase in sales $56 billion, while options activity with a almost 300% increase to $3.52 billionexploded.
Ethereum followed the price movement of BTC and is over 3.100 $ traded, where the total turnover of derivatives is around 115.97% to 84.99 Billion $ and the open interest by 4.57% to 38.37 billion has risen.
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