Digital asset products saw $176 million in net inflows last week amid the general market decline. Ethereum-based products saw the highest inflows, recording $155 million as Bitcoin ETFs struggled. Marathon Digital could help Bitcoin rally following plans to buy back $250 million worth of BTC. Meanwhile, Marathon Digital plans to add to its Bitcoin holdings with convertible note offerings worth $250 million as the crypto market recovery looks imminent.
This brought its year-to-date net flows to $862 million, its highest since 2021. On the other hand, Bitcoin ETFs were hit hard at the start of the week with outflows but recorded inflows as the week progressed, bringing its total net inflows to $13 million at the end of the week. Additionally, Short Bitcoin ETPs saw outflows of $16 million — its largest outflow record since May 2023 — despite the market dip. Flows by Asset Bitcoin is down 1.