Digital Asset Investment Products See Record Inflows
Last week, digital asset investment products received $176 million in inflows, marking the 10th consecutive week of positive growth. This surge in investments has not been seen in years and signals a strong bullish sentiment among investors as the year comes to a close.
Bitcoin Leads the Way
Bitcoin saw massive gains, with investors contributing $133 million to the cryptocurrency. Despite three weeks of outflows, Bitcoin continues to perform well, with a 5% increase in the last 24 hours and a 12% boost in the last seven days. The anticipation for a spot Bitcoin ETF in the United States is driving market growth.
Ethereum and Altcoins Follow Suit
Ethereum received inflows of $31 million, extending its positive streak to five weeks. Ripple and Solana also saw inflows of $2.3 million and $4.3 million respectively. Canada recorded the highest inflow at $79 million, followed by Germany and the United States.
Hot Take: Digital Asset Funds Soar with Institutional Support
The surge in digital asset investment products over the past 10 weeks reflects the growing interest and support from institutional investors. With Bitcoin leading the way and altcoins like Ethereum gaining momentum, the crypto market is experiencing a significant boost compared to previous years. This trend highlights a shift in investor sentiment towards digital assets as a viable investment option.
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