Digital Asset Funds Record $1.76 Billion Inflows in 10 Weeks, Highest Since 2021: Report

Disclosure: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. By using this website, you agree to our terms and conditions. We may utilise affiliate links within our content, and receive commission.Source: Adobe / LuisaDigital asset investment products recorded $176 million in inflows last week extending the positive run to 10 consecutive weeks hitting huge numbers not recorded in years.

A CoinShares Digital Asset Weekly Fund Flow report shows strong bullish sentiment from investors across multiple countries signaling another uphill run as the year winds up.

The $176 million total fund flow last week has pushed the value in the last 10 weeks above $1.76 billion, a figure not recorded in consecutive weeks of inflows since Oct 2021 after future-based Exchange Traded Funds (ETFs) were rolled out in the United States

2021 was also the year the market soared to record highs with Bitcoin (BTC) tapping an all-time higher above $64,000 and multiple altcoins making a rally on the back of the renewed institutional investment in the market.

This year has seen a significant boost changing the tide from last year’s plunging figures caused largely by macroeconomic factors and internal market pressures. Top assets like BTC have posted a 100% growth this year as institutional investors rally around digital assets.

The ten weeks of consecutive inflows translate to 4% of the Assets Under Management (AUM) showing a rise in investment after months of struggles in a bear market.

AUM has now surged 107% this year and stands at $46.2 billion following an increase in decentralized finance (DeFi) activity but remains far off the all-time of $86.6 billion posted in 2021

Bitcoin records massive gains

Bitcoin led the gains as expected after investors sunk in $133 million further extending its good to another week despite short Bitcoin recording three weeks of outflows with $3.6 million in the last seven days.

The anticipation for a spot Bitcoin ETF in the United States continues to drive growth around the market with more firms predicting an approval hangs in the horizon.

At press time, BTC trades for $41,570, a 5% increase in the last 24 hours and a 12% boost in the last seven days as bulls continue to apply pressure towards the end of the year.

Ether lights altcoin path

Ethereum (ETH) recorded inflows of $31 million increasing its positive inflows to 5 weeks totaling $134 million after a slow start to the year. Multi-asset products Ripple (XRP) saw inflows of $2.3 million and $0.5 million respectively

Solana (SOL) continued its inflow in consecutive weeks although way behind Ethereum in terms of volume. The institutional investor favorite recorded inflows of $4.3 million and has recorded a year-to-date (YTD) gain of $143 million

On the geographical front, Canada recorded the highest inflow of $79 million while Germany and the United States saw $56.9 million and $53.5 million. On the other side of the divide, Switzerland, Australia, and Sweden recorded outflows