Crypto Investment Products See Significant Inflows on Spot Bitcoin ETF Hope
Last week, crypto investment products experienced their largest inflows since July 2022, thanks to growing market sentiment surrounding the potential approval of spot Bitcoin ETFs. According to a report by CoinShares, digital asset investment products received $326 million in inflows.
Breakdown of Crypto Inflows
The majority of the inflows came from Canada, Germany, and Switzerland, with totals of $134 million, $82 million, and $50 million respectively. The United States accounted for only 12% of the inflows at $38 million, while Asia had an inflow of $28 million.
Among the cryptocurrencies, SOL led the way with $24 million in inflows. This trend extended to several other smaller-cap cryptocurrencies. On the other hand, Ethereum recorded outflows of $6 million during the same period.
Potential Upside Ahead
Despite the significant inflows, many investors are still staying on the sidelines. CoinShares suggests that this indicates continued restraint among investors. Last week’s inflow was ranked as the 21st largest on record, hinting at further potential upside in the market.
Hot Take: Crypto Investment Products See Surge in Inflows Amid Spot Bitcoin ETF Expectations
Crypto investment products experienced their highest weekly inflows since July 2022 as market sentiment improved due to increasing hopes for spot Bitcoin ETF approvals. According to CoinShares’ report, digital asset investment products received a total of $326 million in inflows. The majority of these came from Canada, Germany, and Switzerland. SOL emerged as the frontrunner in terms of cryptocurrency inflows, with Ethereum recording outflows during the same period. Despite these positive numbers, many investors are still exercising caution, suggesting that there may be further room for growth in the market.
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