Bitcoin Dominates as Digital Asset Funds See Record Inflows

Digital asset investment products attract $882 million in inflows, with Bitcoin leading at $867 million. US ETFs reach a record $62.9 billion in net inflows.

Digital asset investment products have continued to attract strong inflows, with the past week seeing outsized inflows of $882 million, according to CoinShares latest weekly report.

This marks the fourth straight week of inflows, and YTD inflows now stand at $6.7 billion, further closing the gap with the $7.3 billion peak reached in early February.

Bitcoin's dominance continues as it absorbed a whopping $867 million, while US-listed ETFs reached a record $62.9 billion in net inflows since their launch in January 2024.

The US saw the majority of inflows at $840 million, followed by Germany with $44.5 million and Australia with $10.2 million. Canada had outflows of $8 million, while Hong Kong saw outflows of $4.3 million.

Despite Ethereum's strong price performance, its inflows were minimal at $1.5 million. However, Sui outperformed major altcoins with inflows of $11.7 million, compared to Solana's outflows of $3.4 million.

On a YTD basis, Sui has now absorbed $84 million in inflows, surpassing Solana's $76 million.

CoinShares attributes the increase in both prices and inflows to several factors.

"Several macroeconomic trends are supporting the rise in both prices and inflows. Notably, the global M2 money supply has continued to surge, and we are seeing increasing signs of both stagflationary risks in the US and the approval of Bitcoin as a strategic reserve asset by several US states are also adding to the bullish sentiment," the report noted.