Volume 152: Digital Asset Fund Flows Weekly Report

Largest inflows since July, totalling US$78m

• Digital asset investment products saw inflows for the second week totalling US$78m, while trading volumes for ETPs also rose by 37% to US$1.13bn for the week.
• The Ethereum futures ETF launches in the US attracted just under US$10m in the first week, highlighting tepid appetite.
• Solana saw its largest week of inflows of US$24m since March 2022, continuing to assert itself as the altcoin of choice.

Digital asset investment products saw inflows for the second week totalling US$78m, while trading volumes for ETPs also rose by 37% to US$1.13bn for the week. We also saw a rise in Bitcoin volumes of 16% on trusted exchanges.

Regionally, the divide continues, with 90% of inflows from Europe, while the US and Canada saw just US$9m inflows combined, suggesting a continued divergence in sentiment.

Bitcoin was the main beneficiary, seeing inflows totalling US$43m last week, although some investors saw recent price strength as an opportunity to add to short-bitcoin positions, which saw inflows of US$1.2m over the same period.

Last week was an important test for Ethereum investor appetite following the launch of 6 futures-based ETFs in the US. The new ETFs attracted just under US$10m in the first week, highlighting tepid appetite, particularly in comparison to the launch of futures based Bitcoin ETFs which saw US$1bn in the first week. It is likely due to poor investor appetite for digital assets at present, and unfair to compare to the Bitcoin futures ETF launches in October 2021, as appetite was much higher for the assets class overall.

Solana saw its largest week of inflows of US$24m since March 2022. Continuing to assert itself as the altcoin of choice, particularly in light of the recent Ethereum product launches.

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