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Cryptocurrency investment products recorded inflows of $2.7 billion over the past week, a new weekly record, according to a report from asset management firm CoinShares. This capital infusion has pushed total year-to-date inflow to $10.3 billion, approaching the all-time high of $10.6 billion recorded for all of 2021. Bitcoin was the main beneficiary, attracting $2.6 billion and representing 14% of total flows. Total assets under management (AUM).
Digital asset trading volume has also seen a significant increase, reaching a new high of $43 billion this week, a significant jump from the previous record of $30 billion. This rise in trading activity coincides with a 14% increase in assets under management over the past week, bringing the total to more than $94 billion, representing an 88% increase since the beginning of the year.
Despite the recent surge in short positions, Bitcoin continues to attract investment, with an additional $11 million flowing into shorted Bitcoin products last week. Solana, on the other hand, rebounded from negative market sentiment, receiving inflows worth $24 million. Ethereum, despite a strong year-to-date performance, has experienced minor outflows of $2.1 million. Other altcoins such as Polkadot, Fantom, Chainlink, and Uniswap also saw inflows, with amounts ranging from $1.6 million to $2.7 million.
In terms of regional distribution, the United States led inflow with $2.8 billion, followed by Switzerland and Brazil with $21 million and $18 million, respectively. However, some countries such as Canada, Germany, and Switzerland made profits, resulting in outflows of $35 million, $77 million, and $39 million, respectively.
Blockchain stocks did not share the same bullish sentiment, seeing minor outflows totaling $2.5 million.
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