Digital assets: sixth week of inflows, Bitcoin leads the recovery
Digital assets recorded inflows of $857.9 million, marking the sixth consecutive week of positive net inflows.
Digital assets recorded inflows of $857.9 million, marking the sixth consecutive week of positive growth and the highest weekly figure since 24 April. This figure likely reflects improved sentiment surrounding the CLARITY Act, after Senators Tillis and Alsobrooks published the final compromise text on stablecoin yields on 1 May, subsequently maintaining their position on 4 May despite pressure from the banking sector. On Monday, Bitcoin surpassed the $80,000 mark, reaching its highest level since February’s correction. The Senate Banking Committee’s markup is expected this week, whilst total AuM has risen to $160 billion.
Geographically, the United States dominated with inflows of $776.6 million, a sharp increase from the previous week’s $47.5 million. Germany recorded inflows of $50.6 million, slightly higher than the previous week, whilst Switzerland and the Netherlands attracted $21.1 million and $5.0 million respectively, suggesting broader European demand alongside the US recovery.
Bitcoin recorded inflows of $706.1 million, bringing year-to-date flows to $4.9 billion. Short-Bitcoin products, by contrast, recorded outflows of $14.4 million, the highest weekly figure of the year, suggesting a reduction in hedging positions as confidence in the rally strengthens.
Ethereum recorded inflows of $77.1 million, reversing the previous week’s outflows of $81.6 million. Solana raised $47.6 million and XRP $39.6 million, both showing a sharp acceleration compared to recent activity. Multi-asset products were the only notable exception, with outflows of $5.5 million.