TechFlow news, according to CoinShares, digital asset investment products saw total inflows of $176 million last week, marking the eighth consecutive week of weekly inflows and bringing year-to-date inflows to $1.32 billion.
However, inflows still lag far behind the $10.7 billion and $6.6 billion recorded in 2021 and 2020 respectively.
ETP trading volumes averaged $3 billion per week, double this year's average of $1.5 billion. Interestingly, ETPs' share of total cryptocurrency market volume is rising, averaging 11% compared to a long-term historical average of 3.4%, significantly higher than the average during the 2020/21 bull market.
By region, Canada, Germany, and Switzerland continued to see inflows of $98 million, $63 million, and $35 million respectively, while U.S. futures products saw outflows totaling $19 million.
Bitcoin maintained its dominance with inflows of $155 million, accounting for 3.4% of assets under management over the past eight weeks. Last week saw $8.5 million in outflows from Bitcoin short positions.
Several altcoins attracted inflows, most notably Solana, Ethereum, and Avalanche with $13.6 million, $3.3 million, and $1.8 million respectively. Uniswap and Polygon saw minor outflows of $550,000 and $860,000 respectively.
