CoinShares: Digital asset investment products received $48 million in inflows last week

According to the latest weekly report data from CoinShares, the inflow of digital asset investment products increased slightly last week, reaching $48 million. Although the inflow in the first half of the week was close to $1 billion, the release of new macroeconomic data and the minutes of the Federal Reserve meeting (indicating that the US economy will strengthen and the Fed's stance will be more hawkish) led to an outflow of $940 million in the second half of the week. This indicates that the honeymoon period after the US election is over and macroeconomic data has once again become the main driving factor for asset prices.

Last week, the total inflow of Bitcoin reached $214 million. Although its outflow was the highest among other digital assets later in the week, it still performed the best and had an inflow of $799 million so far this year.

Ethereum suffered the biggest loss last week, with an outflow of $256 million. We believe this is due to a broader sell-off of tech stocks rather than any specific issues with the asset. In contrast, Solana did not experience the same pressure and attracted an inflow of $15 million. XRP saw an inflow of $41 million last week, mainly driven by political and legal factors, and the inflow indicates that optimism has increased regarding the SEC appeal deadline on January 15.