cryptocurrency Digital asset investment products have seen a significant increase in inflows, reaching $326 million, according to a recent report from analytics firm CoinShares.
This marks the largest single-week inflow since July 2022 and points to growing optimism among investors. The expectation is largely that the US Securities and Exchange Commission will implement a spot-based program in the US. Bitcoin It stems from the thought that it is on the verge of approving its ETF.
Solana is at the Top in Altcoin Funds
Bitcoin accounted for 90% of inflows at $296 million. Interestingly, the recent rise in Bitcoin prices has also triggered $15 million inflows into short Bitcoin investment products. Despite this increase, the weekly inflow was the 21st largest on record, indicating continued hesitancy among investors.
However, it is highly likely that a spot-based ETF will be approved in the coming months and is expected to be a significant shift for the industry from a regulatory perspective.
From a regional perspective, only 12% of fund flows were from the US at $38 million, likely due to investors waiting for a spot-based ETF. The largest inflows were observed from Canada, Germany and Switzerland with inflows of $134 million, $82 million and $50 million, respectively. Asia also saw its biggest weekly debut at $28 million.
Total assets under management for the funds are now at $37.8 billion, the highest level since May 2022.
Optimism in fund flows To Solana It also led to a significant inflow of $24 million. While some other altcoins also saw inflows, Ethereum It was not a part of this optimistic wave and experienced another outflow of $ 6 million.
Litecoin 500 thousand dollars, XRP $200 thousand, while multi-asset funds saw an outflow of $5.2 million.
*This is not investment advice.
For exclusive news, analysis and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android And iOS Start live price monitoring now by downloading our applications!