Inflows into Crypto Investment Products Reach $1.76 Billion
The past 10 weeks have seen a surge in inflows into crypto investment products, reaching $1.76 billion. This is the highest level since October 2021, when the launch of a futures-based ETF boosted sentiment in the market, according to CoinShares.
Bitcoin Dominates Inflows
Bitcoin (BTC) was the leader in inflows last week, attracting $133 million. This comes after a three-week period of outflows, with short-bitcoin inflows rising to $3.6 million. Ethereum followed, receiving inflows of $31 million, marking five consecutive weeks of positive flows, totaling $134 million for the year. Solana secured fourth place with $4.3 million in inflows.
Canada and Germany Lead in Crypto Inflows
Canada topped the list with $79 million in inflows, with Germany following closely with $57 million. The United States claimed third place, recording $54 million in inflows.
Hot Take: Crypto Investment Flows Surge to Highest Level in Months
With inflows into crypto investment products reaching their highest level since October 2021, it suggests a resurgence of investor interest in the market. Bitcoin continues to dominate, attracting significant inflows, while Ethereum turns its flows positive for the first time this year. Canada and Germany emerge as key players, leading the way in terms of crypto inflows. This upward trend in the crypto market signals growing confidence and suggests that investors are bullish about the potential returns of digital assets.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.