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Digital asset investment products experienced a significant turnaround last week marking an end to a five-week series of outflows with a robust influx of US$644 million. This surge in investments has boosted total assets under management by 6.3% since their low on March 10th. A striking shift in investor sentiment was evident as every day of the last week recorded positive inflows following 17 days of continuous withdrawals.
The United States led the resurgence contributing US$632 million to the inflows. Optimism wasn’t confined to the US alone as other regions including Switzerland Germany and Hong Kong also reported gains. These inflows amounted to US$15.9 million US$13.9 million and US$1.2 million respectively indicating a broad-based recovery across various markets.
Bitcoin was at the forefront of this recovery attracting US$724 million and halting its previous outflow streak. Despite mixed reactions in the altcoin sector with Ethereum seeing significant outflows other cryptocurrencies like Solana Polygon and Chainlink witnessed positive inflows suggesting selective investor interest in specific digital assets.
