(Kitco News) - Inflows into digital asset investment products resumed during the week ending Dec. 22 as the assets under management (AUM) for globally listed products increased by $103 million, bringing the total to nearly $52.1 billion.
James Butterfill, head of research at CoinShares, posted the updated stats on his X feed, showing that crypto exchange-traded products (ETPs) have experienced inflows during 12 of the past 13 weeks. The week ending Dec. 15 was the only outlier with $16 million in outflows.
The largest increase in AUM was witnessed in ETPs listed in Germany, which recorded inflows of $41.6 million, representing 40% of the total. Canada ranked second with $25.8 million, representing 25% of the total. U.S.-listed products came in third with an increase of $20.4 million, while Switzerland recorded $15 million in inflows and Brazil saw an increase of $8 million.
Breaking it down by asset, Bitcoin (BTC) accounted for the bulk of inflows with an increase of $87.6 million, followed by $7.9 million that flowed into Ethereum (ETH), and a $6 million increase for Solana (SOL).
Litecoin (LTC) and Avalanche (AVAX) were the only two tokens to record outflows with declines of $0.4 million and $2.6 million, respectively.
The total AUM for crypto fund products has been on the rise since Sept. 29, validating the assertion by numerous analysts that the next major bull market is underway. Before that, the various funds had seen outflows for eight of the previous nine weeks.
The largest inflows were recorded during the week ending Nov. 24, which saw an increase of $346 million. The rate of inflows has been trending down since then.
CoinShares has attributed the influx of capital to speculation and optimism that the first spot Bitcoin exchange-traded fund (ETF) could soon be approved, prompting many traders to attempt a front-run on the anticipated price surge that will likely follow the first listed product.
Data provided by Alternative shows that the Crypto Fear & Greed Index remains firmly in “Greed” territory, currently registering a score of 73 out of 100, just below the yearly high of 75 recorded on Dec. 5.
