CoinShares Reports $2.3 Billion Inflows Since Grayscale vs SEC Lawsuit, 4.4% of AuM



The debut week of 2024 marked a promising start for digital asset investment products, reaching inflows of $151 million in assets.

This brought the total inflows since the Grayscale vs. SEC lawsuit to $2.3 billion, constituting 4.4% of all assets under management (AuM), as per prominent asset manager CoinShares.

Spot Bitcoin ETF Not ‘Buy The Rumor Sell The News’

According to CoinShares’ latest report, if many truly believed the launch of the ETF in the US would be a “buy the rumor, sell the news” event, there would be a surge in inflows into short-BTC ETPs. Surprisingly, however, there have been outflows totaling $7 million over the past nine weeks.

Bitcoin experienced the highest influx, amounting to $113 million, contributing to a cumulative inflow of 3.2% of Assets under Management (AuM) over the same period. Meanwhile, short-bitcoin ETPs witnessed outflows amounting to $1 million in the first week of the year.

All eyes are on a spot Bitcoin ETF approval by the US Securities and Exchange Commission (SEC). Despite the product not being launched yet in the country, the report found that 55% of the inflows were from US exchanges. Meanwhile, Germany and Switzerland witnessed 21% and 17% inflows, respectively.

Solana Sees 2024’s First Outflows

Solana emerged as one of the top-performing assets in the year 2023, leading to substantial inflows into digital asset products during the latter part of that year, accumulating year-to-date inflows of $74 million.

However, the outset of the year 2024 has not been as favorable for the altcoin, as evidenced by outflows amounting to $5.3 million.

Ethereum, on the other hand, saw inflows totaling $29 million. Over the last nine weeks, the asset saw a substantial shift in sentiment, with total inflows reaching $215 million. Other altcoins that saw notable inflows include Cardano, Avalanche, and Litecoin, whose numbers stand at $3.7 million, $2 million, and $1.4 million, respectively.

Blockchain equities also displayed a promising start to the year, recording $24 million in inflows over the last week.

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