Crypto investment products saw $1.4 billion in net inflows last week: CoinShares

Global crypto investment products at asset managers such as Ark Invest, Bitwise, BlackRock, Fidelity, Grayscale, ProShares and 21Shares registered net inflows totaling $1.44 billion last week, according to CoinShares' latest report.

The figures represent one of the largest registered weekly net inflows, bringing year-to-date figures to a record $17.8 billion, as digital asset investment products saw further buying on price weakness, CoinShares Head of Research James Butterfill wrote. This far exceeds the $10.6 billion net inflows generated in 2021’s bull run.

Weekly crypto asset flows. Images: CoinShares.

However, trading volumes across crypto exchange-traded products remained significantly below the $21 billion weekly average this year, generating just $8.9 million last week — reflecting a seasonal pattern of lower volumes in the summer months, Butterfill previously noted.

Unsurprisingly, Bitcoin based funds dominated with $1.35 billion in net inflows, while short-Bitcoin products saw the largest weekly net outflows since April, totaling $8.6 million. U.S. spot bitcoin exchange-traded funds brought in $1.05 billion alone last week amid a six-day positive streak as total net inflows since launching in January reached a record $15.8 billion.

“We believe price weakness due to the German government bitcoin sales and a turnaround in sentiment due to lower than expected CPI in the U.S. prompted investors to add to positions,” Butterfill said.