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Market

Crypto Investment Products Raises $78M In Inflows Last Week

October 9, 2023 - Around 2 mins mins to read

Key Points:

  • Crypto investment products attracted $78 million in inflows during the second consecutive week, with Bitcoin leading the way.
  • Europe dominated with 90% of the inflows, while the US and Canada lagged behind with just $9 million combined.
  • Solana had a standout week with $24 million in inflows, solidifying its position as a favored altcoin.
Crypto investment products experienced a second consecutive week of inflows, amassing a total of $78 million in investments, according to a CoinShare report.
Crypto Investment Products Raises $78M In Inflows Last Week

Crypto Investment Products Surge: Strong Inflows and Divergent Sentiment

Alongside this surge in investor interest, trading volumes for Exchange-Traded Products (ETPs) also witnessed a substantial uptick, rising by 37% to reach $1.13 billion over the same week. Additionally, Bitcoin trading volumes surged by 16% on trusted exchanges, further emphasizing the growing enthusiasm for cryptocurrencies.

Regionally, the disparity in crypto investment products sentiment persists, with Europe dominating the scene by accounting for 90% of the inflows. In contrast, the United States and Canada collectively saw a modest influx of just $9 million, indicating a continued divergence in investor sentiment.

Bitcoin emerged as the primary beneficiary of this trend, attracting inflows amounting to $43 million in the past week. Interestingly, some investors perceived the recent price strength as an opportunity to bolster their short positions on Bitcoin, resulting in inflows of $1.2 million during the same period.

Solana Shines: Altcoin Attracts $24 Million in Inflows

Notably, Solana experienced its most substantial week of inflows, attracting US$24 million, marking its highest inflow since March 2022. Solana continues to establish itself as the preferred altcoin, particularly in light of recent Ethereum product launches.

The previous week presented a significant test for Ethereum’s investor appetite, following the introduction of six futures-based Exchange-Traded Funds (ETFs) in the United States.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Crypto Investment Products

ETF

Solana

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
Market

Crypto Investment Products Raises $78M In Inflows Last Week

Key Points:

  • Crypto investment products attracted $78 million in inflows during the second consecutive week, with Bitcoin leading the way.
  • Europe dominated with 90% of the inflows, while the US and Canada lagged behind with just $9 million combined.
  • Solana had a standout week with $24 million in inflows, solidifying its position as a favored altcoin.
Crypto investment products experienced a second consecutive week of inflows, amassing a total of $78 million in investments, according to a CoinShare report.
Crypto Investment Products Raises $78M In Inflows Last Week

Crypto Investment Products Surge: Strong Inflows and Divergent Sentiment

Alongside this surge in investor interest, trading volumes for Exchange-Traded Products (ETPs) also witnessed a substantial uptick, rising by 37% to reach $1.13 billion over the same week. Additionally, Bitcoin trading volumes surged by 16% on trusted exchanges, further emphasizing the growing enthusiasm for cryptocurrencies.

Regionally, the disparity in crypto investment products sentiment persists, with Europe dominating the scene by accounting for 90% of the inflows. In contrast, the United States and Canada collectively saw a modest influx of just $9 million, indicating a continued divergence in investor sentiment.

Bitcoin emerged as the primary beneficiary of this trend, attracting inflows amounting to $43 million in the past week. Interestingly, some investors perceived the recent price strength as an opportunity to bolster their short positions on Bitcoin, resulting in inflows of $1.2 million during the same period.

Solana Shines: Altcoin Attracts $24 Million in Inflows

Notably, Solana experienced its most substantial week of inflows, attracting US$24 million, marking its highest inflow since March 2022. Solana continues to establish itself as the preferred altcoin, particularly in light of recent Ethereum product launches.

The previous week presented a significant test for Ethereum’s investor appetite, following the introduction of six futures-based Exchange-Traded Funds (ETFs) in the United States.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.