Digital asset fund flows | March 23rd, 2026

Digital asset flows slow as Fed's hawkish pause dampens sentiment

• Weekly inflows slowed to US$230M, with US$405M in post-FOMC outflows as markets adopted a "hawkish pause" interpretation of the Fed meeting.

• Bitcoin led inflows at US$219M; all regional exchanges saw net gains, headed by the US (US$153M), Germany (US$30.2M), and Switzerland (US$27.5M).

• Solana notched a seventh straight week of inflows (US$136M cumulative), while Ethereum reversed with US$27.5M in outflows after three consecutive weeks of gains.

Digital asset investment products recorded US$230m in inflows last week, marking a notable slowdown compared to prior weeks. While the prevailing view attributes this to the increasingly protracted Iran conflict weighing on sentiment, we believe the more likely cause is the market's "hawkish pause" interpretation of the US Federal Reserve's Wednesday meeting. The intra-week data supports this; inflows were strong in the first two days, totalling US$635M, before reversing sharply in the wake of the FOMC meeting, with US$405M in outflows — though these moderated noticeably by Friday.

Encouragingly, all regional exchanges saw net inflows for the week, with the US leading, seeing inflows of US$153M, with other notable inflows being Germany and Switzerland at US$30.2m and US$27.5m respectively.

Bitcoin dominated the inflows, seeing US$219M last week, although short-bitcoin continued to see inflows too totalling US$6M, highlighting the ongoing polarised views for the asset at present.

Solana saw US$17M in inflows, its 7^th straight week which now totals US$136M, marking it as one of the most popular recently. Conversely, Ethereum saw US$27.5M outflows, ending a 3 week inflows streak. Other notable inflows were Chainlink (US$4.6M) and Hyperliquid (US$4.5M).