Digital Asset Investments See $12 Million Inflows as Total Assets Under Management Reaches $25 Billion
Inflows into digital asset investment products reached $12m last week, marking a strong improvement from the net outflows recorded the week before. Total assets under management (AuM) in crypto investment funds has now reached $25bn.
The $12m of inflows into investment products backed by digital assets was made up largely by inflows into regular bitcoin (BTC) funds, as well as short-bitcoin funds that rise in value as bitcoin’s price falls, new data from the crypto research and investment firm CoinShares showed.
For bitcoin-backed funds, the inflows for the week reached $8.8m, while short-bitcoin funds saw $6.7m of inflows. Coming in as the third most popular digital asset fund category were to so-called multi-asset funds, which are backed by two or more digital assets. This category saw inflows of $0.4m.
Worth noting is that the numbers mark the fifth consecutive week of inflows into bitcoin-backed funds, although some of the effect is being countered by inflows into short-bitcoin products during the same time.
On the other hand, ethereum (ETH)-backed funds saw the largest outflows last week, with $3.9m of investor money being pulled out of these funds on a net basis.
“Investor apathy is persistent, with the last 5 weeks of flows, be it inflows or outflows representing less than 0.05% of AuM,” the CoinShares commented by saying in its report.
CoinShares further noted in its report that the strongest inflows were seen in the US, where the weekly inflows totaled $20m. At the other end of the spectrum, Sweden and Switzerland saw the largest outflows, with $5.2m and $4.5m, respectively, being pulled out of crypto investment funds.
The digital asset investment funds tracked by CoinShares are made up of exchange-traded funds (ETFs) listed around the world, as well as various unlisted but regulated investment funds backed by digital assets.