Digital asset investment products continue to encounter significant interest in recent weeks. Weekly inflows have reached a total of $598 million, and it is noteworthy that this marks the fourth consecutive week of inflows. This flow has surpassed a total of $5.7 billion since the beginning of the year, reaching an impressive level.
US Leads Inflows into Bitcoin and Crypto-Focused Investment Products
A large portion of the inflows occurred in the US, amounting to $610 million. It is evident that the figure was influenced by established issuers like Grayscale, which experienced more outflows last week. However, globally, there were minor inflows of $8.2 million in Brazil and $2.1 million in Switzerland, while Canada and Sweden saw outflows of $18 million and $8 million, respectively.
Bitcoin stood out last week with approximately $570 million in inflows, bringing its total since the beginning of the year to over $5.6 billion. This amount represents 55% of the inflows seen in 2021. However, it is observed that the recent price increases have led to small-scale inflows into short-focused positions.
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Ethereum, XRP, and ADA See Inflows While Solana Experiences Outflows
Other digital assets such as Ethereum, Chainlink, and XRP continue to attract interest and saw various amounts of inflows last week. However, Solana experienced an outflow of $3 million due to interruptions that affected sentiment. On the other hand, Ethereum saw an inflow of $17 million last week, while Chainlink and XRP respectively saw inflows of $1.8 million and $1.1 million.
Blockchain-focused stocks, on the other hand, saw a total outflow of $81 million last week. This suggests that stock investors are currently somewhat cautious. Despite the volatility and uncertainties, the digital asset market continues to see ongoing interest and investments.
