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Digital Asset Funds See Largest Weekly Inflows Since July 2022, Singapore Launches International Tokenization Pilot

Oct 30, 2023
Author
Tom Couture
Tom Couture AC
Market Update This week is a busy one for macro events, with the BOJ, FOMC, and BOE all having monetary policy meetings, beginning with the BOJ tomorrow and the FOMC on Wednesday. It is expected that the FOMC will hold interest rates steady and signal that any further rate hikes will be contingent on financial conditions and economic data. As investors await, the SPY and QQQ have both gained approximately 0.80% today. Crypto markets are stalling, with $BTC declining 1.16% and $ETH decreasing 0.25%. Render ($RNDR) has been one of the top performers over the last seven days, rising over 31% as investors look ahead to OpenAI's DevDay conference next week.Digital asset investment products saw inflows of $326 million last week, the largest weekly inflows since July of 2022. 90% of flows were directed towards Bitcoin, while Solana generated the second most, at $24 million. The strong inflows represent the fifth consecutive week of positive flows, as optimism around a Bitcoin spot ETF continues to rise. Although $326 million represents the largest inflows in over a year, it still is only the 21st largest amount all-time, indicating investors are allocating a cautious but growing amount. 12% of inflows were from U.S.-based investors, while Canada, Germany, and Switzerland comprised th

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