Digital Asset Investment Products See Turnaround

After five weeks of continuous outflows, digital asset investment products saw a turnaround last week, attracting $644 million in inflows. This pushed total assets under management up by 6.3% from their March 10 low.

The reversal was further validated by daily inflows throughout the week, breaking a 17-day streak of outflows.

According to the latest edition of CoinShares’ Digital Asset Fund Weekly Report, this shift signifies a decisive change in sentiment toward the asset class. Bitcoin drove last week’s recovery, attracting $724 million in inflows and reversing a five-week outflow streak that had drained $5.4 billion.

Conversely, short-Bitcoin investment products continued to see outflows for a third consecutive week, amounting to $7.1 million.

The sentiment in the altcoin market was mixed. Ethereum experienced the largest outflow of $86 million, while altcoins like Sui and Polkadot followed with outflows of $1.3 million each, and Tron and Algorand saw outflows of $0.95 million and $0.82 million, respectively.

On the other hand, XRP led inflows with $6.7 million, followed by Solana with $6.4 million. Multi-asset products saw $3.2 million in inflows, while Polygon, Chainlink, and Cardano experienced modest gains of $0.4 million, $0.2 million, and $0.1 million, respectively.

The United States dominated the inflows with $632 million, accounting for the majority of the positive trend. Other countries such as Switzerland, Germany, and Hong Kong also recorded smaller inflows of $15.9 million, $13.9 million, and $1.2 million, respectively.

Brazil and Australia reported smaller amounts at $1.1 million and $0.2 million, while Sweden and Canada saw outflows of $10.3 million and $9.1 million, respectively.