Digital asset investment products saw inflows totalling US$261m. Digital asset investment products are products that are linked to cryptocurrencies or funds that provide broader exposure to digital assets.
These products saw inflows of $261 million in the last week, the sixth week of consecutive inflows.
The total inflows for the past six weeks were $767 million, surpassing the total inflows of $736 million seen in 2022.
Ethereum, the second-largest cryptocurrency by market capitalization, saw the largest inflows since August 2022, totalling $17.5 million. The inflows into digital asset investment products reflect the growing investor interest and demand for exposure to this emerging asset class.
The inflows into Ethereum products were driven by the anticipation of the network upgrade, known as Ethereum 2.0, which aims to improve scalability, security, and energy efficiency. The inflows into Bitcoin products were lower than the previous week, but still positive, indicating that investors remain bullish on the largest cryptocurrency. The total assets under management (AUM) for digital asset investment products rose 5.2% in February from January to $28.3 billion, the third consecutive monthly increase.