Crypto Investment Products See $261 Million Inflows
Last week, crypto investment products received $261 million in fresh cash, marking a six-week streak of positive inflows, according to CoinShares’ latest crypto fund report. This sustained period of inflows is the longest since early 2022. Institutions have contributed a total of $767 million to digital asset investment products during this streak. In 2022, products with exposure to Bitcoin, Ethereum, and Solana saw inflows of $736 million. CoinShares reported that U.S. investors were the most active group, allocating $157 million last week and contributing a total of $493 million this year.
Bitcoin Dominates Weekly Inflows
Bitcoin was the largest recipient of weekly inflows at $229 million, followed by Ethereum at $17.5 million and Solana at $11 million. Ripple (XRP) and Cardano also saw smaller flows of $200,000 and $500,000, respectively. These inflows coincided with Bitcoin’s climb to $35,000 as investors anticipated a spot Bitcoin ETF. American investors were the most active in participating, with German and Swiss investors also contributing significant amounts.
Ethereum Sees Notable Inflows
While Ethereum has experienced outflows of $107 million this year, it saw notable inflows last week, reaching $17.5 million. This marked the steepest pace of inflows for Ethereum since August of last year.
Hot Take: Positive Inflows Indicate Growing Institutional Interest
The continuous positive inflows into crypto investment products over the past six weeks suggest growing institutional interest in digital assets such as Bitcoin and Ethereum. With institutions contributing a significant amount of money to these products, it indicates their confidence in the long-term potential and value of cryptocurrencies. The participation of U.S. investors, in particular, highlights the increasing adoption and acceptance of cryptocurrencies within the country. As institutional inflows continue to rise, it is likely that the crypto market will experience further growth and development in the coming months.
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