Bitcoin Investment Products Ended March With Inflows of $865M Amid Renewed Interest

Digital asset investment products saw an upturn in sentiment in the last week of March, with inflows reaching $862 million, a near recovery from the previous week’s record outflows of $931 million.

Despite this encouraging recovery, CoinShares revealed that ETF activity appears to be slowing. In fact, the latest data shows that daily trading volume is now $5.4 billion, down 36% from its peak three weeks ago.

However, this number remains significantly higher than the 2023 average of $347 million, indicating that the initial market enthusiasm has moderated.

Solana dominates with over $6 million in inflows

Bitcoin continues to lead the pack, with $865 million in inflows last week, according to the latest edition of CoinShares’ Digital Asset Fund Flows Weekly Report.

Asset management companies further said This was primarily due to renewed interest from new US ETF issuers, which contributed $1.8 billion in inflows, offset by $967 million outflows from Grayscale.

Meanwhile, Bitcoin short products have seen outflows for the second consecutive week, totaling $2 million over the past week.

Ethereum also recorded outflows for four consecutive weeks and continued its negative losing streak, reaching $19 million during the same period. This trend is common after network upgrades, suggesting investors are wary about its success.

Meanwhile, altcoins saw a total of $18.3 million in inflows last week, with Solana leading the way with $6.1 million in inflows. Other notable altcoins that saw inflows included Filecoin, Polkadot, and Chainlink, which saw inflows of $3.9 million, $2.4 million, and $1.9 million, respectively.

Investment products designed for Cardano, XRP, and Litecoin also saw modest inflows of $1.1 million, $300,000, and $200,000, respectively.

Regional differences

In terms of regions, there continues to be a gap. This is evidenced by the latest statistics showing that the US is experiencing an inflow of $897 million. Switzerland had the highest weekly outflows at $15.6 million, followed by Germany at $10.5 million and Sweden at $2.4 million.

Interestingly, Europe and Canada saw a combined outflow of $49 million over the past week. This number brings year-to-date outflows to a whopping $785 million.

Meanwhile, Brazil and Australia settled for inflows of $2.9 million and $1.4 million, respectively.

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