Digital assets see new record of $2.9 billion weekly inflows – CoinJournal

• Digital assets saw a new weekly record as inflows hit $2.9 billion last week.
• Bitcoin recorded inflows of $2.86 billion, while Ethereum, Solana and Polygong saw minor outflows.
• CoinShares shared the details in its Digital Asset Fund Flows report published on Monday, March 18.

The crypto investment space saw a record $2.9 billion in inflows last week, digital assets manager CoinShares says.

Per the report, the figure beat the previous week’s $2.7 billion, with this a seventh consecutive week that crypto investment products are seeing inflows.

“This week’s inflows have pushed year-to-date inflows to US$13.2bn, smashing the full 2021 inflows of US$10.6bn,” CoinShare’s global head of research James Butterfill noted in the Digital Asset Fund Flows report published on Monday, March 18.

Bitcoin saw inflows of $2.86 billion

In a week where Bitcoin price shot to a new all-time high above $73k before flipping negative to test lows of $65k, crypto ETPs shone.

Bitcoin saw inflows of $2.86 billion during the week to push its market share to 97% year-to-date.

Meanwhile, smart contracts platforms Ethereum, Solana and Polygon recorded outflows of $14 million, $2.7 million and $6.8 million respectively.

According to CoinShares, an aggregate of all crypto investment products, the global trading volume for digital assets reached $43 billion last week. This was also the volume for the previous week, and was 47% more than the global trading volume for Bitcoin (BTC).

Notably, global ETPs surpassed $100 billion for the first time last week. However, the dip witnessed as Bitcoin led the price correction saw the market close at $97 billion.

BTC price has traded back to $68k and sentiment remains bullish going into the Bitcoin halving. Altcoins are also expected to explore new highs in coming months and this could play into further inflows.