Digital Asset Revenue Skyrocket To $2.9B YTD, Shattering 2021 Records: CoinShares

Investments in digital asset products totaled $2.9 billion, adding to the sharp weekly inflows.

According to the latest data compiled by CoinShares, revenue exceeded last week's record of $2.7 billion, bringing year-to-date investments to $13.2 billion, significantly surpassing total revenue for 2021, which reached $10.6 billion.

A mixed bag for international regions

Trading volume for the week was stable at $43 billion, matching the previous week's record and accounting for a whopping 47% of the total global bitcoin volume.

Also, global exchange-traded products (ETPs) passed the $100 billion milestone for the first time during the week. However, the price adjustment at the end of the week put it at 97 billion dollars.

In terms of regional distribution, the United States grossed $2.95 billion, with Australia, Brazil and Hong Kong earning relatively small amounts of $5 million, $24 million and $15 million respectively.

On the other hand, Canada, Germany, Sweden and Switzerland experienced a total of $78 million in outflows last week. CoinShares notes that despite Bitcoin's impressive performance, 2024 did not start on a positive note. European Asset Manager, in its latest edition of the Digital Asset Fund Flows Weekly Report;

This year has not been off to a good start, seeing $685 million in outflows so far.

Ethereum, Solana and Polygon shed millions

Bitcoin brought in $2.86 billion in revenue last week, accounting for 97% of its total revenue so far. Meanwhile, short bitcoin saw its biggest inflows in a year, totaling $26 million, marking the fifth consecutive week of such inflows.

Polkadot, Litecoin, and Binance earned $3.1 million, $2.3 million, and $1.5 million respectively for the week. The same cannot be said for top modern contract platforms like Ethereum, Solana, and Polygon, which saw $14 million, $2.7 million, and $6.8 million in withdrawals during the same period.

Blockchain shares, however, brought in $19 million, marking the first earnings after a six-week trading period.