Volume 183: Digital Asset Fund Flows Weekly Report
From CoinShares Research Blog by James Butterfill
Inflows of US$932m in response to prosect of interest rate cuts
- Digital asset investment products saw inflows for the second week totalling US$932m. The inflows were an immediate response to the CPI report, with the latter 3 trading days of the week making up 89% of the total flows.
- Grayscale which has suffered US$16.6bn of outflows since the January ETF launch, also saw minor inflows for the first time.
- Ethereum continues to suffer from bearishness over the prospects for an SEC approval of a spot-based ETF this week with further outflows of US$23m.
Digital asset investment products saw inflows for the second week totalling US$932m. Despite the pickup in inflows, volumes were only US$10.5bn for the week in comparison to US$40bn in March. Interestingly, the inflows were an immediate response to the lower-than-expected CPI report on Wednesday, with the latter 3 trading days of the week making up 89% of the total flows, highlighting our view that Bitcoin prices have recoupled to interest rate expectations.
Regionally, the US dominated, seeing US$1,002m of inflows last week. Unusually, Grayscale which has suffered US$16.6bn of outflows since the January ETF launch, also saw minor inflows for the first time totalling US$18m. Switzerland and Germany also saw minor inflows of US$27m and US$4.2m respectively, while Hong Kong and Canada saw outflows totalling US$83m and US$17m respectively.
Bitcoin saw US$942m of inflows with virtually no flows into short Bitcoin, implying a positive outlook amongst investors. A wide range of altcoins saw inflows, most notable of which were Solana, Chainlink and Cardano, which saw US$4.9m, US$3.7m and US$1.9m respectively. Ethereum continues to suffer from bearishness over the prospects for an SEC approval of a spot-based ETF this week with further outflows of US$23m.
Blockchain equities continue to suffer outflows, with only 6 of the 20 weeks this year seeing inflows. Year-to-date they have seen US$512m outflow so far.
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.
You may also like
"AI Godmother" Fei-Fei Li's Latest Interview: I Didn't Expect AI to Become So Popular, the Next Frontier Is Spatial Intelligence
If AI leads humanity into an extinction crisis, it will be humanity's fault, not the machines'. If superintelligence emerges, why would humanity allow itself to be taken over? Where are collective responsibility, governance, and regulation? "Spatial intelligence" may fundamentally change the way we understand the world.
Has the four-year cycle of Bitcoin failed?
The various anomalies in this cycle—including waning sentiment, weakening returns, disrupted rhythms, and institutional dominance—have indeed led the market to intuitively feel that the familiar four-year cycle is no longer effective.
At an internal Nvidia meeting, Jensen Huang admitted: It's too difficult. "If we do well, it's an AI bubble," and "if we fall even slightly short of expectations, the whole world will collapse."
Jensen Huang has rarely admitted that Nvidia is now facing an unsolvable dilemma: if its performance is outstanding, it will be accused of fueling the AI bubble; if its performance disappoints, it will be seen as evidence that the bubble has burst.
After a 1460% Surge: Reassessing the Value Foundation of ZEC
Narratives and sentiment can create myths, but fundamentals determine how far those myths can go.
Trending news
MoreCrypto prices
More
