Digital asset investment products saw further buying amid price weakness, with $1.44 billion in inflows last week, pushing year-to-date inflows to $17.8 billion, exceeding inflows of $10.6 billion in 2021.
Bitcoin saw the 5th largest weekly inflow on record at $1.35 billion, while Ethereum saw inflows of $72 million last week, likely in anticipation of the imminent approval of a spot-based ETF in the US.
Volumes remained low at US$8.9 billion for the week, compared to this year's 7-day average of US$21 billion.
Regionally, the US led the way with $1.3 billion weekly, while the positive sentiment was seen in all other countries as well; The most notable countries were Switzerland (a record for inflows this year), Hong Kong and Canada with $58 million, $55 million and $24 million, respectively.
Bitcoin saw its 5th largest weekly inflow on record at $1.35 billion, while short-bitcoin saw its largest weekly outflow since April at $8.6 million.
A wide range of altcoins have seen inflows, with Ethereum seeing inflows of US$72 million last week, the largest inflow since March in anticipation of the imminent approval of a spot-based ETF in the US.
Solana, Avalanche, and Chainlink saw inflows of $4.4 million, $2 million, and $1.3 million, respectively.
*This is not investment advice.
