Investment in Digital Assets Continues to Grow
Investment in digital asset products has been on the rise, with inflows reaching $1.35 billion in the past week alone. This brings the total investment over the past three weeks to $3.2 billion.
Trading Volumes Increase for Exchange Traded Products (ETPs)
Trading volumes for Exchange Traded Products (ETPs) have also seen a significant increase, rising by 45% week-over-week to reach $12.9 billion. However, this only accounted for 22% of the overall crypto market volumes.
Bitcoin Sees Inflows Despite Market Sentiment
According to the latest report from CoinShares, Bitcoin saw $1.27 billion in inflows last week. On the other hand, short-bitcoin ETPs experienced outflows of $1.9 million, totaling $44 million since March. This suggests that investors are becoming less concerned about the price of bitcoin and are moving away from bearish bets on the cryptocurrency.
Since March, total outflows have reached $44 million, representing 56% of assets under management (AuM). This trend highlights a shift in investor sentiment towards digital assets.
Positive Market Sentiment Continues After Halving Event
The cryptocurrency market has continued to see positive sentiment since the halving event in April. This week, Ethereum received $45 million in inflows, making it the altcoin with the highest year-to-date (YTD) inflows at $103 million, surpassing Solana. Despite receiving $9.6 million in inflows last week, SOL now trails behind ETH with $71 million in YTD inflows. Litecoin also saw inflows of $2.2 million, while Chainlink received $0.7 million, XRP $0.5 million, and Cardano $0.4 million.
Struggles for Blockchain Equities Despite Overall Market Performance
On the other hand, blockchain equities are facing challenges, with outflows of $8.5 million last week, even though most ETFs are outperforming global equity indices. Despite this, the market remains optimistic about the future of cryptocurrencies.
Regional Trends in Investment
Regional investment trends show a diverse picture compared to last week. The US and Switzerland have seen significant inflows of $1.3 billion and $66 million, respectively, indicating a growing interest in cryptocurrencies in these regions.
Global Investment Trends
Recent data shows a significant increase in global investment flows, with the United States attracting the highest amount of capital at $10.5 million. Following closely behind are Canada and Australia, with $7.8 million and $3.8 million in inflows, respectively.
Outflows and Trends
On the other hand, Germany is leading in outflows, with $5.2 million leaving the country. Hong Kong and Brazil also experienced minor outflows, totaling $1.9 million and $1.7 million each. Even Sweden recorded minimal outflows of $0.6 million during the same period.
Special Offers
Take advantage of special offers in the investment world. Get a $600 exclusive welcome offer on Binance by using the provided link. Additionally, BYDFi Exchange is offering up to $2,888 as a welcome reward. Register now and open a 100 USDT-M position for free!
