Digital asset funds experienced inflows of $2.7 billion last week, their 11th consecutive week of gains. This figure pushed the total to $16.9 billion. Interestingly, the mid-year momentum is similar to 2024, when inflows reached $18.3 billion by June’s end.
CoinShares noted that continued investor interest is likely tied to a mix of increased geopolitical tensions and the current “uncertainty” around monetary policy, both of which are driving demand for digital assets.
Bitcoin Dominates Digital Asset Inflows
According to the latest edition of the ‘Digital Asset Fund Flows Weekly Report,’ Bitcoin captured 83% of total inflows in digital asset investment products last week, as it pulled in $2.2 billion amidst strong investor optimism. Short-Bitcoin products continued to see outflows, with $2.9 million exiting last week, which pushed year-to-date outflows to $12 million. This essentially indicated a positive sentiment around Bitcoin.
Ethereum followed suit with $429 million in weekly inflows, as it catapulted its year-to-date total to $2.9 billion, owing to the ongoing bullish investor interest. XRP also secured $10.6 million last week, bringing its yearly inflows to $219 million. While Solana recorded $5.3 million in weekly inflows, its year-to-date tally remains at $91 million.
Next up was Sui, which attracted $1.4 million in inflows last week, reaching $4.7 million so far this year. Chainlink and Cardano saw weekly minor inflows of $0.8 million and $0.7 million, respectively, which pushed their year-to-date totals to $24 million and $10 million.
Multi-asset products added a modest $0.2 million last week, totaling $58 million in inflows for the year, while Litecoin’s YTD inflows stand at $5 million.
Inflows last week were largely driven by the US, which recorded $2.65 billion, while Switzerland and Germany saw smaller inflows of $23 million and $19.8 million. Australia added $8.7 million. In contrast, Sweden saw outflows of $15.9 million, while Canada, Brazil, and Hong Kong recorded outflows of $13.6 million, $2.4 million, and $2.3 million, respectively.
Following price rallies, Hong Kong has continued to experience outflows, which reached $132 million for June.
Bitcoin Defies June Lull
Bitcoin defied its usual June weakness with a last-minute rally, as it caught up to equities after Trump’s $4.5 trillion tax bill advanced in the Senate. According to QCP Capital’s note, the focus has now shifted to today’s vote, aiming for a July 4 deadline.
On the institutional side of things, demand remains strong, with spot BTC ETFs seeing $2.2 billion in inflows. Strategy and Metaplanet continued steady accumulation, while leveraged longs increased as the leading crypto approached $108K.
Ethereum and Solana rallied on optimism over potential ETH and SOL staking ETFs. However, options markets remain muted, risk reversals also appear to be flat, and implied volatility is near historical lows despite the bullish spot price action.
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