Key Points
- Institutional crypto products saw an additional $646 million last week, pushing the year-to-date inflows to a record $13.8 billion.
- Despite a slow week, Bitcoin-led products dominated, with U.S. spot ETFs remaining a primary focus.
The past week saw continued inflows into digital asset investment products, largely driven by U.S.-based Bitcoin [BTC] spot exchange-traded funds (ETFs).
CoinShares, a digital asset management firm, reported that approximately $646 million was invested into institutional crypto products last week. This pushed the year-to-date (YTD) inflows to a record-setting $13.8 billion, which is nearly 29% higher than the total inflows recorded in 2021.
Inflows Slowed, AuM Dropped
However, the inflows last week were considerably slower compared to the $862 million seen the week before. This resulted in the total assets under management (AuM) falling to $94.46 billion, a 3.5% drop from the previous week.
The majority of these investments were in Bitcoin, the largest institutional crypto product. Funds associated with Bitcoin saw inflows of $663 million last week, bringing the total inflows since the start of the year to an impressive $13.5 billion.
U.S. Spot ETFs Remain a Focus
U.S. spot ETFs, which began trading in early January, continued to attract attention. Total inflows into these relatively new investment avenues reached $483 million last week. However, this was significantly slower compared to the nearly $860 million seen the previous week.
CoinShares noted that the demand for ETFs was lower compared to early March. The volume recorded by ETFs dropped to $17.4 billion last week, down from $43 billion in the first week of March.
Ethereum [ETH]-linked funds struggled for the fourth consecutive week, with outflows totaling $22.5 million. However, other leading altcoins such as Solana [SOL] and Litecoin [LTC] saw impressive inflows of $4 million and $4.4 million respectively.
