Digital Asset Investment Flows
Today, James Butterfill, Head of Research at CoinShares, provided insights into investment flows in digital assets for the week ending 8 December 2023. It marked the 11th consecutive week of inflows into digital asset investment products, totaling $43 million, but with a significant decline from previous weeks. Butterfill observes a trend in investments in short positions due to market price appreciations and investor anticipation of price declines. Europe continues to lead in inflows, contributing $43 million, followed by the United States at $14 million; half of which went into short positions. On the other hand, Hong Kong saw its second consecutive week of outflows, totaling $8 million, as did Brazil at $4.6 million.
Bitcoin and Ethereum Investment
Butterfill notes Bitcoin’s continued attraction for investors, with $20 million inflow, bringing its year-to-date inflows to a substantial $1.7 billion, including significant inflows of $8.6 million into short-bitcoin positions, indicating skepticism among some investors. Ethereum also saw its sixth consecutive week of inflows, totaling $10 million, recovering to a positive inflow total of $19 million for the year. Altcoins such as Solana and Avalanche saw inflows of $3 million and $2 million, respectively.
Record-breaking Blockchain Equity
Butterfill reports a record-breaking week for blockchain equities, recording the largest weekly inflows at $126 million; reflecting growing confidence and interest in blockchain technology and its associated companies.
Hot Take
Investment flows in digital assets for the ending week of 8th December amounted to a total of $43 million, marking the 11th consecutive week of inflows, with Europe topping the chart at $43 million and Bitcoin continuing to attract substantial investment inflows.
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