- YTD inflows reached an all-time high (ATH) of $13.8 billion.
- Volume clocked by ETFs fell to $17.4 billion last week.
Digital asset investment products recorded another week of net inflows, driven by healthy demand for US-based Bitcoin [BTC] Spot Exchange Traded Funds (ETFs).
The inflow is slowing down
According to the latter report Digital asset management firm CoinShares pumped approximately $646 million into institutional crypto products last week, bringing year-to-date (YTD) inflows to an all-time high (ATH) of $13.8 billion.
For context, this figure was almost 29% higher than the total inflow in all of 2021.
That said, inflows slowed significantly last week, compared to $862 million the week before.
Source: CoinShares
Total assets under management (AuM) fell to $94.46 billion, down 3.5% from the previous week.
AuM, a measure of the inflows and market value of an ETF’s underlying asset, is a barometer of the fund’s performance. The higher the value of AuM, the more attractive it becomes to potential investors.
Bitcoin does the heavy lifting. Ethereum disappoints again
As previously highlighted, the lion’s share of investments was captured by Bitcoin, the largest institutional crypto product. Funds linked to the king of cryptocurrencies witnessed an inflow of $663 million last week.
This increased total inflows since the beginning of the year to an impressive $13.5 billion.
US spot ETFs, which were approved for trading in early January, continued to be the focus. Total inflows into these relatively new investment opportunities reached $483 million last week, with four net positive days, according to AMBCrypto’s analysis of SoSo value facts.
However, inflows slowed significantly compared to the previous week’s nearly $860 million.
CoinShares noted in the report that demand for ETFs was muted compared to early March. Volume clocked by ETFs fell to $17.4 billion last week, compared to $43 billion in the first week of March.
Ethereum [ETH]-linked funds continued to struggle, experiencing outflows totaling $22.5 million for the fourth week in a row.
Interestingly, other leading altcoins defied this negativity, with Solana [SOL] and Litecoin [LTC] with impressive outflows of $4 million and $4.4 million respectively.