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CoinShares reported a significant increase in investor bullishness towards the digital asset, with a total inflow of $125 million in the past week. In the past two weeks, inflows totaled $334 million, representing nearly 1% of total assets under management (AuM).
Bitcoin remains the top choice for investors, with a massive $123 million inflow over the past week. Bitcoin investment products have bounced back to net inflows this year, reversing its $171 million net outflow position just two weeks earlier. Despite the recent increase in price, Bitcoin short investment products have experienced outflows for ten straight weeks, now representing 59% of AuM.
However, short-Bitcoin remains the second-best performing asset in terms of inflows this year, with $60 million. As for altcoins, Ethereum led the pack with $2.7 million inflows, followed by Cardano, Polygon, and XRP. Multi-asset and Solana experienced minor outflows of $1.8 million and $0.8 million, respectively. Blockchain equities are also experiencing a renaissance, with $6.8 million inflows after a 9-week streak of outflows.
The surge in digital asset investment and blockchain equity indicates growing investor confidence in the crypto industry.
Total AuM hit $37 billion during the week, matching the highest since early June 2022 and the AuM average for 2022. Trading activity remains strong, with weekly volumes of $2.3 billion, much higher than this year’s average of $1, 5 billion.
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