Digital asset investment products experienced a cumulative inflow of 6 million in the past week, marking the eighth consecutive week of positive weekly inflows. The share of total cryptocurrency volumes held by Exchange-Traded Products (ETPs) is on the rise, averaging 11%, significantly surpassing the long-term historical average of 3.4%. The latest data suggest that this current percentage is also notably higher than the averages observed during the 2020/21 bull market. YTD Inflows Surge to .32 Billion The digital asset investment products attracted inflows amounting to 6 million, extending a streak of eight consecutive weeks of positive weekly inflows and bringing year-to-date inflows to .32 billion. However, the recent inflows lag significantly behind the
Topics:
Chayanika Deka considers the following as important: AA News, Avalanche, Bitcoin (BTC) Price, Solana (SOL) Price
This could be interesting, too:
Chayanika Deka writes Yuga Labs Secures Major Win as SEC Closes Investigation Without Charges
Andrew Throuvalas writes Bitcoin Soars Back To ,000 After BlackRock CEO Says “Buy The Dip”
Chayanika Deka writes XRP, SOL, and ADA Inclusion in US Crypto Reserve Pushes Traders on Edge
Chayanika Deka writes Why Arthur Hayes Is Bullish on Bitcoin Under Trump’s Economic Strategy
Digital asset investment products experienced a cumulative inflow of $176 million in the past week, marking the eighth consecutive week of positive weekly inflows.
The share of total cryptocurrency volumes held by Exchange-Traded Products (ETPs) is on the rise, averaging 11%, significantly surpassing the long-term historical average of 3.4%. The latest data suggest that this current percentage is also notably higher than the averages observed during the 2020/21 bull market.
YTD Inflows Surge to $1.32 Billion
The digital asset investment products attracted inflows amounting to $176 million, extending a streak of eight consecutive weeks of positive weekly inflows and bringing year-to-date inflows to $1.32 billion. However, the recent inflows lag significantly behind the substantial figures of $10.7 billion in 2021 and $6.6 billion in 2020.
According to CoinShares, the trading volumes in Exchange-Traded Products (ETPs) have maintained an average of $3 billion per week, twice the average recorded this year at $1.5 billion.
Interestingly, the ETP share of total crypto volumes is on the rise, standing at an average of 11%. It surpassed the long-term historical average of 3.4%, notably exceeding the averages observed during the 2020/21 bull market.
In terms of geographical distribution, Canada, Germany, and Switzerland maintained positive inflows of $98 million, $63 million, and $35 million, respectively. However, the United States experienced outflows amounting to $19 million from futures-based products.
Additionally, Brazil, France, and Australia settled with $1.1 million, $1.1 million, and $0.8 million respectively.
Bitcoin Leads, But Altcoins Not Far Behind
Bitcoin remains the dominant player, attracting $155 million in inflows over the past eight weeks, constituting 3.4% of Assets under Management (AuM). On the other hand, short-bitcoin witnessed outflows of $8.5 million last week. This ongoing positive sentiment was attributed to the anticipated approval of a spot-based Bitcoin ETF in the United States.
Altcoins also witnessed inflow in the past week, with Solana leading with a whopping $13.6 million. Ethereum also appears to have bounced back from slumber, recording $3.3 million, followed by Avalanche with $1.8 million during the same period. Trailing behind were Cardano, XRP, and Litecoin with $0.8 million, $0.5 million, and $0.4 million, respectively.