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10 weeks in a row – Here’s how crypto investment products are faring these days
For the tenth consecutive week, cryptocurrency investment products have recorded inflows of $3.2 billion, with assets under management reaching an impressive $44.5 billion as reported by CoinShare. The consistent surge has led to a growing investor appetite for digital assets amidst shifting financial landscapes.
Bitcoin-focused investment products remained dominant, attracting over $2 billion in inflows, followed closely by Ethereum-based offerings which accumulated $1.089 billion and contributing to a year-to-date total of $4.44 billion. This upswing highlights an increasing confidence in the cryptocurrency market.
Meanwhile, altcoins were able to contribute significantly as well. Despite not achieving Bitcoin’s level of success, several coins managed to record notable inflows. Ethereum maintained its upward trajectory, marking its seventh consecutive week of inflows and accumulating $3.7 billion during this period, with $1 billion added last week. XRP, in particular, stood out, recording a significant $145 million in inflows as optimism grew around the potential for a U.S.-listed ETF. Furthermore, Ripple’s stablecoin RLUSD received approval from New York’s financial regulator, further solidifying its position. Meanwhile, Litecoin, Cardano, and Solana secured modest inflows of $2.2 million, $1.9 million, and $1.7 million respectively.
On the other hand, multi-asset funds experienced setbacks with an outflow of $31 million, highlighting a shift towards single-asset focused investments among investors.
Geographically speaking, the cryptocurrency market continued its positive momentum across all regions. The United States led the charge with $3.14 billion in inflows, followed by Switzerland and Germany with inflows of $35.6 million and $32.9 million respectively. Brazil contributed a solid $24.7 million, while Hong Kong, Canada, and Australia added smaller but still notable amounts of $9.7 million, $4.9 million, and $3.8 million respectively. Sweden however bucked the trend, reporting an outflow of $19 million.
In conclusion, it is clear that crypto investment products have maintained their impressive streak, with over $44.5 billion in assets under management.
Source: ambcrypto.com
