CoinShares, a Europe-based digital asset investment and trading group, digital asset investment products received a total of $76 million in inflows last week.

According to the blog post by James Butterfill published on Monday (6 February 2023), which examined inflows into digital asset investment products for the week ending on 3 February 2023, this was the fourth consecutive week of inflows, bringing the year-to-date total to $230 million.

The company claims this signals a shift in investor sentiment at the beginning of 2023. As a result of the inflows, assets under management (AuM) have increased by 39% this year, reaching a total of $30.3 billion, the highest since mid-August 2022.

CoinShares states that the majority of inflows came from the US, Canada, and Germany, with inflows of $38 million, $25 million, and $24 million, respectively.

CoinShares reports that Bitcoin remains the primary focus for investors, with inflows totaling $69 million, representing 90% of the weekly total inflows.

The remaining inflows came from short-Bitcoin, which totaled $8.2 million. The company states that the inflows into short-Bitcoin indicate that opinions remain divided over the sustainability of the current rally. Despite being relatively small compared to the long-Bitcoin inflows, the last three weeks’ inflows into short-Bitcoin total $38 million, making up 26% of total AuM.

CoinShares also says that there were minor inflows into Solana ($0.5 million), Cardano ($0.6 million), and Polygon ($0.3 million). Meanwhile, Polygon reportedly saw outflows of $0.5 million. The company notes that despite improvements in the clarity of unstaking, Ethereum saw only $0.7 million in inflows.

Image Credit

Featured Image via Pixabay