Digital-Asset Investment Products Draw $1.2 Billion, Extending Inflows to Fourth Week

Digital-asset investment products recorded $1.2 billion in net inflows last week, extending a streak of positive flows to four weeks.

Global digital-asset investment products attracted $1.2 billion of net inflows in the latest week, according to a CoinShares report published on April 27. CoinShares attributed the gains to improving institutional demand as Bitcoin traded at its highest level since early February. Total assets under management rose to $155 billion, the highest level since Feb. 1, though still below the $263 billion peak reached in October last year.

The US accounted for the vast majority of inflows at $1.1 billion. Germany posted $61.7 million of inflows, more than double the previous week. Switzerland reversed from $138 million of outflows a week earlier to $35.2 million of inflows. Canada also recorded $15 million of inflows.

Bitcoin led by asset with $933 million of inflows, lifting cumulative net inflows this year to $4 billion. Short-Bitcoin investment products also drew $16.5 million, indicating continued hedging demand.

Ethereum attracted $192 million, marking a third straight week of net inflows exceeding $190 million. XRP also returned to net inflows after one week of outflows.

Blockchain-related equity ETFs drew $617 million over the past three weeks, the highest weekly level on record.

CoinShares said institutional demand was improving as Bitcoin traded at its highest level since early February.