Originally published on: July 22, 2024
In an encouraging development for the digital asset market, CoinShares has reported a notable $1.35 billion influx in investment products related to digital assets within the past week. This fresh surge in inflows is part of a larger trend, with the total inflows over the last three weeks amounting to an impressive $3.2 billion. The increase in investments underscores a growing confidence among investors in digital assets.
US Leads Inflows, Short-Bitcoin ETPs Record Outflows
The United States claimed the top spot in attracting inflows, leading the way with $1.3 billion of the total $1.35 billion received in the past week. These positive inflows are a stark contrast to short-Bitcoin exchange-traded products (ETPs), which experienced outflows of $1.9 million. This shift in market sentiment towards bullish tendencies is evident in the movement of investments.
Bitcoin ETFs Flourish, Market Sentiment Turns Positive
The CoinShares report also reveals that short-Bitcoin products have faced total outflows of $44 million since March, constituting over 55% of assets under management (AUM). This transformation in sentiment is attributed to a positive shift post theBitcoin halving event that occurred in mid to late April. Additionally, the report highlights the success of Ether, which attracted $45 million in inflows over the last week, surpassing Solana’s inflows of $103 million year-to-date (YTD).
Diverse Regional Flow Trends Showcase Varied Investment Strategies
The regional flow landscape reflects diverse investment strategies and sentiments among investors across different markets. Alongside the US, Switzerland contributed $66 million to the inflows; however, Brazil and Hong Kong witnessed outflows of $5.2 million and $1.9 million, respectively. This mix of flows emphasizes the unique characteristics of regional markets and investor behavior.
BlackRock Achieves Record $10.6 Trillion AUM Milestone
Notably, on July 15, BlackRock, the global asset management giant, announced a historic achievement of reaching $10.6 trillion in total assets under management (AUM) by the end of the fourth quarter. This milestone signifies a remarkable $1.2 trillion year-over-year growth, propelled in part by the surge in exchange-traded funds (ETF) inflows in Q1. BlackRock’s CEO Larry Fink attributed this growth to increased interest from retail investors, a focus on private markets, and a substantial rise in ETF flows.
The latest data from CoinShares and BlackRock indicate the evolving landscape of digital asset investments and the broader financial market, showcasing shifting sentiments and investment patterns among global investors.
