🧐 CoinShares: Last week's inflow of cryptocurrency funds hit a record high, with Bitcoin and Ethereum dominating
CoinShares' latest report shows that the inflow of crypto asset investment products reached an astonishing $3.85 billion last week, setting a record high for this year!
Meanwhile, the total inflow of these investment products year-to-date (YTD) has reached $41 billion, with assets under management (AUM) soaring to $165 billion! This is a stark contrast compared to the peak before 2021, when the YTD total inflow was $10.6 billion and the AUM peaked at $83 billion.
Bitcoin and Ethereum are undoubtedly the stars of this feast. Bitcoin saw inflows of $2.5 billion last week, while Ethereum set a record for the largest single-week inflow in history, reaching $1.2 billion. This not only demonstrates the strong demand in the market for these two major digital assets but also makes the $14 million outflow from Solana over two consecutive weeks seem a bit lonely!
In addition, blockchain stocks are also keeping pace, with inflows reaching $124 million, the highest level since January 2023. This reflects an optimistic attitude towards the growth potential of the blockchain industry.
Regionally, the U.S. leads by a wide margin with nearly $3.6 billion in inflows, while Switzerland, Germany, Canada, and Australia are also making their mark with inflows of nearly $160 million, $116 million, $14.2 million, and nearly $10 million, respectively.
In summary, despite occasional market fluctuations, such as the recent drop in prices for Bitcoin, Ethereum, and Solana, the overall trend remains strong. This fills us with anticipation for the future of cryptocurrencies!
🗣️ Conclusion:
In conclusion, the inflow of funds into crypto asset investment products has reached a historical high, demonstrating the market's firm confidence in core digital assets such as Bitcoin and Ethereum. Although there remains the possibility of short-term corrections in the market, the strong momentum of inflows reflects investors' optimistic expectations for the long-term growth potential of cryptocurrencies.
💬 What are your thoughts on this record inflow of cryptocurrency funds? Do you think the market will correct in the short term, continue to consolidate, or rise against the trend? Leave your opinions and thoughts in the comments section!
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