Bitcoin Commodities Dominate With $312M in Revenue, Total AUM Hits 18-Month High: CoinShares

Investors poured a staggering $346 million into digital asset investment products last week, marking the highest weekly inflows in more than two months.

The rally, fueled by widespread anticipation of a spot-based ETF launch in the United States, echoes sentiment reminiscent of the late 2021 bull market.

Ethereum Leads the Herd as an Altcoin.

According to the latest edition of the “Digital Asset Fund Flow Weekly Report” written by CoinShares Head of Research, James Butterfill, the combination of rising prices and continued revenue flow has pushed total assets under management (AuM) to $45.3 billion. This marks the highest point in over 18 months.

In particular, 87 percent of the lion's share comes from Canada and Germany. In contrast, the United States saw relatively modest inflows of $30 million, suggesting a cautious stance as investors await the much-anticipated ETF launch.

Among the altcoins, Ethereum experienced a significant turnaround last week with $34 million in revenue. According to the report, the leader of the altcoin contributed a total of 103 million dollars for four weeks. This resurgence marks a decisive shift in thinking, effectively bucking the outflow trend that has characterized most of the year.

Other popular digital assets have also attracted the attention of investors. Solana, Polkadot, and Chainlink brought in a total of $3.5 million, $0.8 million, and $0.6 million, respectively.

Bitcoins see a high income stream

Bitcoin remained the dominant force last week with an inflow of $312 million, pushing the year-to-date revenue past $1.5 billion. Bitcoin assets have contracted by 61% since the April 2023 peak, despite short sellers posting $0.9 million in outflows for the third straight week.

The report further stated that the exchange trading products ETP as a percentage of the total position of Bitcoin volumes remain above average, basically representing 18% last week. Such a trend is evidenced by the “increasing use of ETP to gain exposure to the asset class.”