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Volume 166: Digital Asset Fund Flows Weekly Report

Volume 166: Digital Asset Fund Flows Weekly Report

CointimeCointime2024/01/23 12:45
By:Cointime

Net inflows into US ETFs total US$1.25bn since launch, incumbents suffering

Volume 166: Digital Asset Fund Flows Weekly Report image 0
  • Digital asset investment products saw minor outflows last week totalling US$21m, although this top line number masks very high trading volumes which totalled US$11.8bn.
  • Incumbent, higher cost issuers suffered in the US, seeing US$2.9bn of outflows, while newly issued ETFs have now seen a total of US$4.13bn inflows since launch.
  • Blockchain equities saw further large inflows totalling US$156m, bringing the last 9 week run to US$767m.
Volume 166: Digital Asset Fund Flows Weekly Report image 1

Digital asset investment products saw minor outflows last week totalling US$21m, although this top line number masks very high trading volumes which totalled US$11.8bn in Bitcoin last week, 7 times the usual weekly trading volume in 2023. Regionally, the US saw US$263m of inflows, while Canada and Europe combined saw US$297m outflows, suggesting there has been minor migration of assets to the US, where fees are currently more competitive.

Bitcoin saw minor outflows totalling US$25m, although the US$11.8bn trading volumes represented 63% of all Bitcoin volumes on trusted exchanges, highlighting the ETP activity is currently dominating overall trading activity at present.

Incumbent, higher cost issuers suffered in the US, seeing US$2.9bn of outflows since the newly issued spot-based ETFs were launched on 11th January 2024. These newly issued ETFs have now seen a total of US$4.13bn inflows since launch, outstripping that lost from the higher cost incumbent ETPs. Investors saw recent price weakness as an opportunity to add to short-Bitcoin investment products, seeing US$13m inflows.

Altcoins suffered, with Ethereum and Solana seeing US$14m and US$8.5m outflows respectively.

Blockchain equities saw further large inflows totalling US$156m, bringing the last 9 week run to US$767m.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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