CoinShares Digital Asset Fund Flows Weekly
2021-02-09
Fund flows this week unusually focussed on Ethereum with inflows into investment products totaling US$245m. US$195m of these inflows were Ethereum representing 80% of the total. We believe investors are looking to diversify and are growing increasingly comfortable with Ethereum fundamentals. Bitcoin had its lowest inflows (US$42m) since the all-time highs were achieved in the week ending 8th January 2021.
Despite the lower inflows into Bitcoin, we are seeing little evidence of taking profits with investors preferring to buy and hold. Taking stock of the year so far, total inflows into digital asset investment products now total US$2.6bn, compared to US$6.7bn for 2020. Assets under management are now at a record US$37.6bn. Investment product trading volumes remain high, averaging US$670m per day last week, representing 5.4% of total Bitcoin trading volumes.
This is considerably lower than the US$1.9bn per day average during the second week of 2021.
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