Digital asset still has the belief of investors
According to a CoinShares’ report released on March 7, digital asset investment products saw inflows totaling $127m last week, an uptick on the previous week, suggesting investors remain supportive of digital assets despite the recent geopolitical events prompting a sell-off in risk assets.
In a similar manner to the previous week, the positive sentiment was centered in North America with inflows totaling $151m versus outflows in Europe totaling $24m.
Bitcoin saw inflows totaling $95m last week, the largest single weekly inflow since early December 2021, and has now seen 7 consecutive weeks of inflows.
Ethereum saw inflows totaling $25m last week, the largest in 13 weeks, and follows a run of mixed to negative sentiment since early December.
Multi-asset (multiple coins) investment products continued to see inflows that totaled $8.6m last week. Multi-asset, on a relative basis, has seen the most inflows year-to-date, totaling US$104m, representing 3.6% of assets under management (AuM).
Altcoin fortunes were mixed last week, with outflows from Solana ($1.7m), Polkadot ($0.9m) and Binance ($0.4m). While Litecoin, Cardano and XRP saw inflows totaling $0.4m, $0.9m and $0.4m respectively.
Blockchain equities saw inflows totaling $7.7m last week.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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