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Digital Asset Funds, Especially Ethereum, Post Largest Inflow Since February
Ether attracted $30 million of inflows during the seven days through April 30.
Updated Mar 6, 2023, 3:17 p.m. Published May 4, 2021, 6:38 p.m. 1 min read
Inflows to digital asset investment products rose to $489 million last week. That’s a roughly $487 million increase from the prior week and marks the largest inflows since February 2021.
Ether (ETH) attracted $30 million of inflows during the seven days through April 30, bringing the total assets under management to a record $13.9 billion, according to a new report by CoinShares published on Tuesday.
- “The high inflows concealed varied flows amongst providers, with many seeing outflows in Europe while their North American peers saw strong inflows,” wrote CoinShares.
- The greatest inflows were into bitcoin (BTC) with $442 million. Ripple (XRP), polkadot (DOT), Binance coin and cardano (ADA) products had minor inflows while multi-asset investment products saw inflows of $9.2 million last week.
- Bitcoin cash (BCH) saw outflows of $1.7 million last week, representing 10% of total assets under management.
- Regarding the variation in digital asset inflows, CoinShares stated, “We believe some investors are beginning to take more opportunistic positions after having range traded since February, while others have capitulated and taken profits.”
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From May 20 to May 29, XRP funds took in $35 million while bitcoin and ether ETFs lost roughly $2 billion combined, with Ripple’s earlier reported XRP treasury plan still awaiting confirmation.
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- U.S.-listed spot XRP ETFs drew $11.88 million in net inflows on May 29, extending a week of gains even as bitcoin and ether funds saw continued redemptions.
- Total net assets in U.S. XRP ETFs now stand near $1.12 billion, with about $35 million added since May 20 while bitcoin and...
