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Digital Asset Funds, Especially Ethereum, Post Largest Inflow Since February
Ether attracted $30 million of inflows during the seven days through April 30.
Updated Mar 6, 2023, 3:17 p.m. Published May 4, 2021, 6:38 p.m.
Inflows to digital asset investment products rose to $489 million last week. That’s a roughly $487 million increase from the prior week and marks the largest inflows since February 2021.
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Ether (ETH) attracted $30 million of inflows during the seven days through April 30, bringing the total assets under management to a record $13.9 billion, according to a new report by CoinShares published on Tuesday.
- “The high inflows concealed varied flows amongst providers, with many seeing outflows in Europe while their North American peers saw strong inflows,” wrote CoinShares.
- The greatest inflows were into bitcoin (BTC) with $442 million. Ripple (XRP), polkadot (DOT), Binance coin (BNB) and cardano (ADA) products had minor inflows while multi-asset investment products saw inflows of $9.2 million last week.
- Bitcoin cash (BCH) saw outflows of $1.7 million last week, representing 10% of total assets under management.
- Regarding the variation in digital asset inflows, CoinShares stated, “We believe some investors are beginning to take more opportunistic positions after having range traded since February, while others have capitulated and taken profits.”
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Solana CME Futures Fell Short of BTC and ETH Debuts, but There's a Catch
When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.
What to know:
- Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
- Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
- Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.
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