• Inflows were up last week despite the widespread selloff in digital assets
  • Bitcoin remained the most popular digital asset

Despite last week’s price volatility, digital asset investment products extended gains with inflows totaling $395 million, according to data compiled by asset manager CoinShares. 

There were almost no outflows last week, although as prices fell throughout the week inflows declined from $100 million on Monday and Tuesday to $12 million on Friday. 

Bitcoin fell as much as 16% to around $45,000 last week, but the largest digital currency remained the most popular with an inflow of $288 million. Even amid the selloff, bitcoin is up about 70% year-to-date. 

Ethereum gained momentum with a $91 million inflow last week. The second-largest digital currency has gained about 113% year-to-date, signalling growing interest in the digital asset as decentralized finance products flourish. 

Last week saw record trading volumes on exchanges of $26 billion. Investment products made up only 7% of the total weekly volume. 

Inflows so far this quarter are 4% lower than last quarter’s record $4 billion in inflows.  

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    Casey Wagner is a New York-based business journalist covering digital assets and macro economics. Prior to joining Blockworks, she reported on markets at Bloomberg News. She graduated from the University of Virginia with a degree in Media Studies.