PANews reported on February 10 that according to the latest weekly data from CoinShares, digital asset investment products had inflows for five consecutive weeks last week, totaling $1.3 billion, bringing the inflows so far this year to $7.3 billion. The recent price drop has caused the total assets under management of ETPs to drop from the historical high of $181 billion at the end of January to $163 billion. Trading volume stabilized at $20 billion this week.
On a regional basis, the United States saw inflows of $1 billion, however, bargain hunting was widespread and most other regions also saw inflows, most notably Germany, Switzerland and Canada, which saw inflows of $61 million, $54 million and $37 million, respectively.
Bitcoin saw inflows of $407 million, with the global ETP now accounting for 7.1% of the current market cap, making it the largest holder relative to any other entity. Ethereum was in the spotlight this week, with its recent price drop to nearly $2,100 triggering a massive dip in buying, with inflows of $793 million, surpassing Bitcoin for the first time this year. Other notable inflows were XRP and Solana, with $21 million and $11 million, respectively. Blockchain stocks saw inflows of another $33 million, bringing year-to-date inflows to $194 million.
