Digital Asset Inflows Hit $3.3bn in a Week, Driving YTD Total to Record $10.8bn

Digital asset investment products saw inflows of US$3.3bn last week, extending the six-week streak to US$10.5bn.

Digital asset investment products saw inflows of US$3.3bn last week, extending the six-week streak and taking YTD inflows to a new record of US$10.8bn, while total assets under management (AUM) briefly peaked at an all-time high of US$187.5bn earlier in the week.

We believe that growing concerns over the US economy, evidenced by the Moody's downgrade and subsequent rise in treasury yields, are motivating investors to seek out new avenues for diversification, such as digital assets.

The US was the main contributor to the weekly inflow, reporting net inflows of US$3.2bn. Germany followed with inflows of US$41.5m, while Australia and Hong Kong saw inflows of US$10.9m and US$33.3m respectively. Swiss investors, on the other hand, realized gains from recent price strength, leading to outflows of US$16.6m.

Bitcoin was the primary driver of the weekly inflow, with US$2.9bn flowing into Bitcoin products. This amount represents about a quarter of total inflows for 2024. Some investors also used the recent price gains as an opportunity to short Bitcoin, leading to inflows of US$12.7m into short-Bitcoin products, the highest weekly inflow since December 2024.

Ethereum products also saw inflows of US$326m, the most in 15 weeks and marking the fifth consecutive week of gains as sentiment towards the asset class continues to improve.

Finally, XRP’s remarkable 80-week inflow streak came to an end with outflows of US$37.2m, the largest on record.

Volume 235: Digital Asset Fund Flows Weekly Report - 9 August 2024

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Digital asset investment products saw inflows of US$3.3bn last week, extending the six-week streak of inflows to reach a total of US$10.5bn.

This brought YTD inflows to a new record of US$10.8bn, while total assets under management (AUM) briefly peaked at an all-time high of US$187.5bn earlier in the week.

The US was the main contributor to the weekly inflow, reporting net inflows of US$3.2bn. Germany followed with inflows of US$41.5m, while Australia and Hong Kong saw inflows of US$10.9m and US$33.3m respectively. Swiss investors, on the other hand, realized gains from recent price strength, leading to outflows of US$16.6m.

Bitcoin was the primary driver of the weekly inflow, with US$2.9bn flowing into Bitcoin products. This amount represents about a quarter of total inflows for 2024.

Some investors also used the recent price gains as an opportunity to short Bitcoin, leading to inflows of US$12.7m into short-Bitcoin products, the highest weekly inflow since December 2024.

Ethereum products saw inflows of US$326m, the most in 15 weeks and marking the fifth consecutive week of gains as sentiment towards the asset class continues to improve.

Finally, XRP’s remarkable 80-week inflow streak came to an end with outflows of US$37.2m, the largest on record.

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This article is written by Ben Shepherd at Factorial and has been edited and approved by Steve Gray at Tokenized Technology.

Tokenized Technology is a part of the STET Group. STET Group provides blockchain and Web3 technology and solutions to major institutions in Europe, Asia, and the Middle East.