Digital asset investment products experienced a positive shift in sentiment during the last week of March, with inflows reaching $862 million, nearly recovering from the previous week’s record outflows of $931 million.
However, this figure remains significantly higher than the 2023 average of $347 million, indicating a moderation in the initial market frenzy.Bitcoin continued to lead the pack, observing inflows of $865 million last week, according to the latest edition of CoinShares’ Digital Asset Fund Flows Weekly Report.that this was largely driven by renewed interest from new ETF issuers in the US, which contributed $1.8 billion in inflows, counterbalanced by Grayscale’s outflows of $967 million.
Ethereum, too, continued its negative streak as it witnessed its fourth consecutive week of outflows, amounting to $19 million during the same period. This trend is commonly observed following network upgrades, suggesting investor caution regarding their success. Investment products designed for Cardano, XRP, and Litecoin also noted modest inflows of $1.1 million, $0.3 million, and $0.2 million, respectively.With respect to regions, the divergence still persists. This is evident from the latest stats that depicted the US experiencing inflows of $897 million. Switzerland recorded the highest weekly outflows of $15.6 million, followed by Germany with $10.5 million and Sweden with $2.4 million.
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