According to the latest weekly data from CoinShares, digital asset investment products experienced a significant inflow of $176 million as investors seized the recent price weakness as a buying opportunity.
Despite a substantial drop in total assets under management (AuM) to $75 billion—losing over $20 billion in the market adjustment—the AuM has rebounded to $85 billion. Exchange-traded product (ETP) trading activity surged to $19 billion this week, significantly higher than the average weekly trading volume of $14 billion seen so far this year.
Ethereum emerged as the primary beneficiary of the market correction, attracting $155 million in inflows last week. This boost brings Ethereum’s year-to-date inflows to $862 million, the highest level since 2021. This surge is mainly attributed to the recent launch of US spot ETFs.
Bitcoin, on the other hand, experienced outflows at the beginning of the week but recovered with significant inflows towards the end, totaling $13 million for the week. Short Bitcoin ETPs saw their largest outflows since May 2023, with $16 million (23% of assets under management) exiting. This movement has brought the assets under management for short positions to their lowest level since the beginning of the year, indicating a substantial number of investors are exiting short positions.
Notably, every region saw inflows last week, suggesting a unanimous positive sentiment towards digital assets following the recent price correction. The most significant inflows were recorded in the US ($89 million), Switzerland ($20 million), Brazil ($19 million), and Canada ($12.6 million). However, the US remains the only country with net outflows month-to-date, totaling $306 million.
