Digital Asset Investment Products’ YTD Revenues Skyrocket Over $13B: CoinShares

Along with the broader market revival, digital asset investment products have also maintained their upward trend. According to the latest data from CoinShares, inflows reached $646 million last week.

As a result, year-to-date revenue peaked at $13.8 billion, significantly higher than the $10.6 billion recorded in 2021.

ETF hype slows down

The new show comes after digital asset investments rose strongly in late March. As the market prepares for the much-anticipated BTC rally this month, investor sentiment has improved with Bitcoin's recovery above $72,000.

However, the heat around Bitcoin ETFs seems to be dying down. In fact, the latest edition of CoinShares' Digital Asset Fund Flows showed that weekly flow levels have not reached the highs seen in early March. Additionally, trade volume fell to $17.4 billion last week, down from $43 billion in the first week of March.

“Despite this, there are signs that appetite from ETF investors is improving without achieving the weekly levels of inflows seen in early March.”

Additionally, the Singaporean asset manager noted that investor sentiment is polarized vis-à-vis the region.

The United States saw a total of $648 million in additional revenue for the week. A similar trend was observed among investors in Brazil, Hong Kong and Germany, which brought in $10 million, $9 million and $9.6 million respectively. On the other hand, Switzerland and Canada recorded weekly outflows of $27 million and $7.3 million respectively.

Bearish investors capital

Bitcoin continues to be a primary focus for investors, bringing in about $663 million in revenue last week. Meanwhile, short bitcoin investment products experienced outflows for the third week in a row, totaling $9.5 million, indicating “slight capitation” among hedge investors.

Ethereum saw $22.5 million in outflows for the fourth consecutive week. This is in contrast to most altcoins, which have continued to see an influx of revenue over the past week. Among them were Litecoin, Solana, and Filecoin, which brought in $4.4 million, $4 million, and $1.4 million, respectively.

During the same period, investment products related to Polkadot, Cardano, and XRP reported lower revenues of $0.6 million, $0.2 million, and $0.1 million, respectively.