Visibly showing continued growth, the digital asset market has recorded cumulative inflows of $1.76 billion over the past 10 weeks, according to the latest report from CoinShares.
These sustained inflows, led by Ethereum, mark the longest streak of growth since the launch of futures-based ETFs in the United States in October 2021.
A positive trend emerges as Ethereum attracts $134 million in inflows.
Despite a 107% increase in total assets under management (AuM) this year, reaching $46.2 billion, the cryptocurrency market is still lagging its 2021 high of $86.6 billion.
The latest CoinShares report highlights that trading volume for exchange-traded products (ETPs) remained robust at $2.6 billion over the past week, accounting for 12% of total Bitcoin trading volume.
In this environment, Bitcoin was recognized as a major beneficiary. However, Ethereum, the world’s largest altcoin, has also seen a significant surge in investor interest. This week alone, Ethereum reported an impressive inflow of $134 million.
This marks the fifth consecutive week of positive inflows into Ethereum, totaling $134 million, and marks a significant shift in market sentiment. For the first time this year, Ethereum net flows turned positive at $10 million, representing a notable reversal of long-term negative sentiment.
In contrast to Ethereum’s rise, Bitcoin continued to dominate the digital asset product market, recording significant inflows totaling $133 million. In addition, short Bitcoin investment products, which experienced outflow for three consecutive weeks, showed a change in trend with an inflow of $3.6 million last week.
Other notable altcoins also saw positive movements. Solana, XRP, and Cardano recorded inflows of $4.3 million, $500,000, and $100,000, respectively, during the same period.
Interestingly, Litecoin has emerged as an exception to the current market scenario, standing out as an outlier despite the overall increase in institutional demand for cryptocurrency assets.
Geographic distribution of digital asset inflows and outflows
The global landscape of digital asset inflows is concentrated in certain regions, particularly Canada, Germany, and the United States, showing inflows of $79 million, $57 million, and $54 million respectively. These regions have played a pivotal role in driving the recent surge in digital asset investment.
In contrast, the digital asset manager’s report highlighted a contrasting trend in Hong Kong, where minor outflows of $15 million were observed.
Despite Asia’s relatively small total assets under management (AuM) and limited number of exchange-traded products (ETPs), the region has been experiencing net outflows year-to-date.
Additionally, blockchain technology-related stocks have been experiencing steady inflows for seven consecutive weeks. The most recent inflows, worth $17.4 million last week, marked the highest level since July 2022 and signal growing investor interest in blockchain-related stocks amid broader digital asset market trends.