The latest Digital Asset Fund Flows Weekly Report from CoinShares showcases a substantial injection of $137 million into the crypto markets last week, marking the continuation of a four-week trend, with a noteworthy $742 million flowing into the markets during this period – a clear indication of increasing optimism in Bitcoin and cryptocurrency market as a whole.
The positive sentiment is not confined to a single region; it's spreading across North America, where most of the inflows originated. A significant $109 million came solely from US investors.
Unsurprisingly, Bitcoin received the largest share of the inflows, further affirming its enduring appeal and trust among investors.
Other cryptocurrencies are also garnering attention and support. Litecoin (LTC), Solana (SOL), XRP, Cardano (ADA), and Polygon (MATIC) all enjoyed considerable inflows, ranging from $0.5 million or more. The diverse interest in various crypto assets illustrates the captivating possibilities and potentials that lie ahead in this ever-evolving landscape.
While Ethereum (ETH) experienced minor outflows of $1.6 million during this period, it's essential to view this within the broader context of the positive momentum witnessed overall.
“Digital asset investment products saw US$137m of inflows last week. Following a few late updates to prior weekly data, inflows for the last 4 weeks now total US$742m, representing the largest run of inflows since the final quarter of 2021. Trading volumes on investment products remain well above the year average of US$1.4bn, totaling US$2.3bn for last week. The volumes are currently making up a far greater proportion of total crypto volumes, comprising 11% last week compared to the 2% average.”
“Bitcoin saw inflows totaling US$140m, comprising 99% of all inflows. While short Bitcoin investment products saw a 12th week of outflows of US$3.2m. A combination of recent price appreciation and outflows have seen short Bitcoin total assets under management fall from their April US$198m peak to just US$55m.”
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