On February 6, European cryptocurrency investment firm CoinShares released its “Digital Asset Fund Flow Report,” which revealed that investors are showing strong interest in digital asset investment products, with inflows totaling $76 million a day. last weekmarking the fourth consecutive week of entries.
The report indicates a turnaround in investor sentiment for the start of 2023, with year-to-date inflows of $230 million. This growth has translated into an increase in total assets under management (AUM), which now stands at $30.3 billion, the highest level since mid-August 2022.
Investors are mainly focusing on Bitcoin (BTC), with weekly inflows of $69 million, accounting for 90% of the total flows for the week.. This investment growth comes primarily from the United States, Canada, and Germany, with weekly inflows of $38 million, $25 million, and $24 million, respectively.
Opinions are divided, however, on the sustainability of this growth, with short-term Bitcoin inflows totaling $8.2 million over the same period. Although these inflows are relatively small compared to long Bitcoin inflows, they have increased by 26% of the total AUM in the last three weeks.. Despite this, short-term bitcoin trading has not attracted considerable interest so far this year, as total short-term bitcoin assets have fallen by 9.2%.
Altcoins also posted some minor inflows, with investment products Solana (SOL), Cardano (ADA), and Polygoin (MATIC) posting modest declines.. Despite the growing clarity around denationalization, Ether (ETH) producers only received $700,000 in inflows.
Overall, the positive inflows into digital asset investment products underscore the growing investor confidence in the market. Altcoin activity also suggests that the digital asset market remains diverse and constantly evolving.
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