CoinShares reports that from May 10 to 16, digital asset investment products recorded $785 million in net inflows, continuing a five-week streak of positive sentiment — albeit slightly down from $882 million the week prior.
– Year-to-date inflows have hit an all-time high of $7.52 billion, recovering fully from the February-March correction
– Total assets under management (AUM) rose to $172.9 billion
– Ethereum funds saw explosive growth from $1.5M to $205M amid optimism around the Pectra network upgrade
Altcoins showed mixed investor sentiment: Solana-based products registered outflows of $0.89M, while XRP and Sui saw healthy inflows of $1.4M and $11.7M, respectively.
Bitcoin-focused products experienced a slowdown with $557M in inflows (compared to $867M previously), and US spot BTC ETFs saw reduced inflows of $603.7M — down from $934.2M.
QCP Capital analysts highlight that despite BTC pulling back from $107,000, the price remains within a strong range, largely supported by institutional interest.
The firm links this positioning to growing risk aversion globally, driven by Moody’s downgrade of the US sovereign rating — further reinforcing BTC’s role as “digital gold.”
Notably, 9,739 BTC were withdrawn from Coinbase on May 9 — the largest single-day outflow in 2024 so far. CryptoQuant notes no signs of major whale sell-offs.
