Key Points
- Investment products based on digital assets attracted $2.9 billion in the week from March 11 to March 15.
- Bitcoin inflows totaled $2.86 billion last week, while Ethereum, Solana, and Polygon experienced capital outflows.
Investment products centered around digital assets saw an influx of $2.9 billion in the week spanning March 11 to March 15.
This data was revealed in a report from CoinShares. The inflow of capital broke the previous record of $2.7 billion. The most recent week’s inflows brought the year-to-date inflows to $13.2 billion, surpassing the total inflows of $10.6 billion in 2021.
Trading Volumes and Blockchain Shares
The trading volumes for the week reached a record $43 billion. This figure is a record for the previous week and accounts for over 47% of the total global volumes of Bitcoin (BTC).
Shares in blockchain saw an inflow of $19 million for the first time after six consecutive weeks of outflows. For the first time, global ETPs crossed the $100 billion mark, although a price correction later saw them settle at $97 billion.
Bitcoin and Altcoin Inflows
Bitcoin inflows made up the majority last week, totaling $2.86 billion and accounting for 97% of all year-to-date inflows. Conversely, short Bitcoin inflows for the year totaled $26 million, marking the fifth consecutive week.
Leading altcoins, on the other hand, saw capital outflows. Ethereum (ETH), Solana (SOL), and Polygon (MATIC) lost $14 million, $2.7 million, and $6.8 million, respectively.
The week prior, from March 4 to March 8, 2024, capital inflows into crypto investment products reached a record level of $2.7 billion. Over the previous two months and more, the total inflow amounted to $10.3 billion. For comparison, this figure amounted to $10.6 billion in 2021. Bitcoin played a significant role in the increase in volume, accounting for $2.6 billion.
