Inflows into digital asset investment products totaled $87 million last week, bringing year-to-date inflows to $0.52 billion. Bitcoin received $69 million in inflows, raising the year-to-date total to $369 million, even though total assets under management are at their lowest levels since July 2021 due to price weakness. Last week, short Bitcoin saw $1.8 million in inflows, indicating that the market has not completely shed its bearish undertones.
Ethereum continued its downward trend last week, with outflows totaling $11.6 million, bringing the year-to-date net outflows to $250 million, in sharp contrast to most other cryptocurrencies. Most other altcoins witnessed inflows, with Solana and Tron each receiving $1.8 million and $0.4 million.
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