Bitcoin Dominates Inflows in Digital Asset Investment Products
According to a recent report by CoinShares, digital asset investment products received significant inflows of $1.1 billion, with Bitcoin accounting for nearly 98% of these inflows. The introduction of Spot Bitcoin ETFs in the United States has driven investor appetite for Bitcoin exposure within traditional financial infrastructure. Since their launch, these ETFs have accumulated total inflows of $2.8 billion.
The report also highlights a deceleration in potential outflows from existing investment products. However, the sale of Genesis holdings worth $1.6 billion may trigger further outflows in the future. On a regional level, Canada and Germany saw minor outflows, while Switzerland experienced inflows of $35 million.
Inflows for Altcoins: Ethereum and Cardano
The bullish sentiment surrounding Bitcoin has spilled over to other major cryptocurrencies like Ethereum and Cardano. Ethereum witnessed inflows of $16 million, while Cardano saw inflows of $6 million. Other cryptocurrencies such as Avalanche, Polygon, and Tron also experienced minor inflows.
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