Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
Digital assets experience unprecedented $17.8 billion in year-to-date inflows, driven by Bitcoin and Ethereum.
Investment products related to digital assets witnessed consecutive inflows this month, with $1.44 billion reported last week, according to CoinShares’ most recent weekly fund flow report.
This latest influx increased the year-to-date total to an unprecedented $17.8 billion, exceeding the $10.6 billion inflows recorded in 2021.
However, trading volumes remained subdued at approximately $8.9 billion, in contrast to the seven-day average of $21 billion.
Bitcoin recorded its fifth-largest inflow.
A detailed analysis of the flows indicated that Bitcoin experienced its fifth-largest weekly inflows on record last week, amounting to $1.5 billion. In contrast, short-Bitcoin saw its most significant weekly outflow since April 2024, totaling $8.6 million.
This activity implies a change in market sentiment within the cryptocurrency sector. The notable inflows into Bitcoin reflect an increasing confidence among investors regarding the asset’s potential for considerable growth, with many taking the opportunity presented by the recent price drop to enter the market.
James Butterfill, head of research at CoinShares, stated:
Related Posts
“We believe price weakness due to the German Government bitcoin sales and a turnaround in sentiment due to lower than expected CPI in the US prompted investors to add to positions.”
Crypto Asset Inflows (Source: CoinShares)
In addition, Ethereum-related cryptocurrency products garnered $72 million in inflows in anticipation of the launch of its spot exchange-traded funds (ETF). This represents its largest inflow since March, bringing its year-to-date total to $57 million.
Nate Geraci, President of ETF Store, anticipated that the SEC would approve ETH ETF products for trading this week, asserting that the financial regulator “has no good reason for any further delay at this point.”
Moreover, large-cap alternative digital currencies such as Solana, Chainlink, Avalanche, and XRP collectively attracted over $8 million in inflows.
Regionally, the United States led with $1.3 billion in inflows last week, reflecting a broadly positive sentiment. Switzerland achieved a yearly record with $58 million in inflows, while Hong Kong and Canada recorded $55 million and $24 million, respectively.
The post Digital assets see record $17.8 billion YTD inflows as Bitcoin and Ethereum lead the charge appeared first on CryptoSlate.
