Research Summary
The report discusses the recent trends in digital asset investment. The report highlights that digital asset investment products saw the largest single weekly inflows since July 2022, totalling US$199m. This influx corrects almost half of the prior 9 consecutive weeks of outflows. Bitcoin was the primary beneficiary, seeing US$187m inflows last week, which represents 94% of the total flows. The report also mentions that the renewed positive sentiment is due to recent announcements from high-profile ETP issuers that have filed for physically backed ETFs with the US Securities & Exchange Commission.
Actionable Insights
- Bitcoin is leading the market: Bitcoin saw the largest inflows last week, totalling US$187m, which represents 94% of the total flows.
- Positive sentiment due to ETF applications: The recent positive sentiment in the market is attributed to high-profile ETP issuers filing for physically backed ETFs with the US Securities & Exchange Commission.
- Altcoins see minor inflows: Altcoins like XRP and Solana saw only minor inflows, suggesting that the current market sentiment is more favorable towards Bitcoin.
