Inflows into digital asset investment products nearly tripled to $233 million last week, according to a report Monday by CoinShares, a digital asset management firm.
Last week’s inflow of $150 million was the largest since early March, possibly reflecting bitcoin’s (BTC) brief rally to an all-time high just below $65,000. However, the cryptocurrency has since declined to around $55,600 at press time.
- “Inflows this week were unusually spread over a varied set of digital assets,” according to CoinShares.
- Bitcoin products saw the largest inflows of $108 million while Ethereum products continued to see outsized inflows of $65 million relative to its market cap.
- “XRP has been the most popular, with weekly inflows of $33 million, nearly doubling its assets under management (AUM) to $83 million,” said CoinShares. XRP assets have roughly doubled in the month to date.
- “Digital asset investment products saw much higher trading turnover for the week," the report added. "This represents a rise of 59% compared to last week and similar levels to early February 2021.”
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