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10 weeks in a row – Here’s how crypto investment products are faring these days
The cryptocurrency market has continued to defy expectations with the latest inflows, marking the tenth consecutive week of positive momentum. The report by CoinShare reveals that digital asset investment products have attracted an astonishing $3.2 billion in new assets, taking the total assets under management to a staggering $44.5 billion.
Bitcoin led the charge, raking in an impressive $2 billion, as its price surged. Not surprisingly, Ethereum followed closely with $1 billion in inflows, cementing its position as a popular choice among investors.
However, multi-asset products were not as fortunate, witnessing a significant outflow of $31 million. This unexpected decline could be attributed to the growing preference for single-asset focused investments.
Region-wise, it is worth noting that this positivity was not limited to any specific geography. The United States led the charge with an astonishing $3.14 billion in inflows. Switzerland and Germany also saw a notable increase of $35.6 million and $32.9 million respectively, as well as Brazil, contributing $24.7 million. Hong Kong, Canada, and Australia also witnessed growth, adding $9.7 million, $4.9 million, and $3.8 million respectively.
On the flip side, it was a different story for Sweden, where the trend bucked with an outflow of $19 million.
Source: ambcrypto.com
