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10 weeks in a row – Here’s how crypto investment products are faring these days
Crypto investment products have maintained their impressive streak, recording over $3.2 billion in inflows for the tenth consecutive week. This surge has pushed the total assets under management to an impressive $44.5 billion, as per CoinShare’s recent report.
Bitcoin-focused investment products remained dominant, attracting a staggering $2 billion in inflows. Ethereum-based products followed closely, securing $1.089 billion and contributing to a year-to-date total of $4.44 billion. The steady influx highlights a growing investor appetite for digital assets, signaling increasing confidence in the cryptocurrency market amidst shifting financial landscapes.
Altcoins such as XRP and Litecoin managed to secure some traction, with inflows of $145 million and $2.2 million, respectively. Additionally, Cardano, Solana, Binance Coin, and Chainlink saw inflows of $1.9 million, $1.7 million, $0.7 million, and $0.7 million each.
On the other hand, multi-asset investment products faced a setback, recording a loss of $31 million in outflows. This shift towards single-asset focused investments underscores investor preference for more targeted exposure to individual cryptocurrencies.
Regional analysis revealed that cryptocurrency markets continued their positive momentum across various global regions. The United States led the charge with an inflow of $3.14 billion. Switzerland and Germany followed with inflows of $35.6 million and $32.9 million, respectively. Brazil, Hong Kong, Canada, and Australia also contributed to this trend by adding $24.7 million, $9.7 million, $4.9 million, and $3.8 million in inflows. Interestingly, Sweden bucked the trend with a loss of $19 million.
It is worth noting that the cryptocurrency market’s resilience has been bolstered by growing institutional interest and increased adoption across various sectors, including gaming and e-commerce.
Source: ambcrypto.com
