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Last week, total inflows into digital asset investment products totaled $1.9 billion. This data marks the 15th consecutive week of positive investor sentiment in the sector.
$1.9 Billion Weekly Inflows into Digital Asset Funds: Ethereum Takes Lead, Bitcoin Sees Limited Outflow
Since the beginning of July, fund inflows have reached a total of $11.2 billion, surpassing the record of $7.6 billion seen in December after the 2024 US elections.
Regional data presents a mixed picture. While the US saw strong inflows of $2 billion and Germany $70 million, markets like Brazil ($23.2 million), Canada ($84.3 million), and Hong Kong ($160 million) saw significant outflows.
Ethereum was the surprise investor last week. Investment products for Ethereum attracted $1.59 billion in inflows, marking the asset's second-strongest weekly performance in history. This brings Ethereum's total inflow since the beginning of the year to $7.79 billion, surpassing the total for 2023.
Bitcoin, by contrast, saw a $175 million surge last week. This contrasts with the positive trend in Ethereum and other altcoins, and raises the question some analysts have raised: is altcoin season just beginning?
On the altcoin front, Solana led the way with $311 million in inflows, XRP $189 million, and SUI $8 million. However, this momentum didn't spread to all altcoins. Assets like Litecoin ($1.2 million) and Bitcoin Cash ($660,000) experienced outflows, suggesting the altcoin rally hasn't yet become a mainstream trend.
Analysts believe this selective altcoin interest is driven by expectations of potential spot ETF approvals in the US. Investors are taking positions, particularly on the possibility that large-cap projects could be potential ETF candidates.
*This is not investment advice.