CoinShares: Digital asset investment products saw a net inflow of $2.2 billion last week, the largest weekly increase since July

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PANews
10-21
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According to the latest weekly report from CoinShares, digital asset investment products saw inflows of $2.2 billion, the largest weekly increase since July this year. This new optimism stems from the growing expectation that the Republican Party will win the upcoming U.S. election, as they are generally seen as more supportive of digital assets. This, in turn, has brought about a positive price momentum. As a result, trading volume for investment products surged 30%, and the rise in prices and inflows have brought the total assets under management close to the $100 billion threshold. The regional flow of funds shows a polarized picture, with the U.S. seeing inflows of $2.3 billion, while almost all other countries experienced small outflows, the most notable being Canada, Sweden, and Switzerland, at $20 million, $18 million, and $15 million respectively. This may be due to profit-taking in small amounts outside the U.S. Bitcoin was the main beneficiary, with inflows of $2.13 billion, and the recent price increase has led to Bitcoin short-term investment product inflows of $12 million, the largest since March this year. Ethereum also saw inflows of $58 million, and some Altcoins also saw inflows, such as Solana ($2.4 million), Litecoin ($1.7 million), and XRP ($0.7 million). Multi-asset products saw outflows of $5.3 million, ending a 17-week streak of inflows.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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