📰 Table Of Contents
Digital Asset Investment Products Inflows
Digital asset investment products saw significant inflows of $932 million for the second week, driven by market reactions to the Consumer Price Index (CPI) report.
Market Trends
- 89% of total flows occurred in the latter three trading days of the week.
- US dominated regional inflows with $1.002 billion.
- Grayscale experienced minor inflows of $18 million for the first time.
- Switzerland and Germany witnessed minor inflows of $27 million and $4.2 million, respectively.
- Hong Kong and Canada experienced outflows of $83 million and $17 million, respectively.
Bitcoin and Altcoins
Bitcoin attracted $942 million in inflows, while Ethereum saw outflows of $23 million. Altcoins like Solana, Chainlink, and Cardano also received notable inflows.
Blockchain Equities and Spot Bitcoin ETFs
Blockchain equities experienced ongoing outflows this year, with a total outflow of $512 million. On the other hand, demand for Spot Bitcoin ETFs picked up, with Grayscale’s ETF seeing its first weekly net inflow.
Bitcoin Price Movement
Bitcoin closed the week at around $66,300, showing a 7.8% increase from the previous week. The week had low volatility with a significant price surge on Wednesday.
Trading Volume and Activity
Bitcoin ETFs maintained stable trading volume, with a cumulative volume of $262.6 billion since inception. Daily trading volume ranged from $1.5 to $2 billion, following a period of high activity in February and March.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
