Welcome to Extreme Investor Network, where we provide you with the latest insights and updates on all things crypto, blockchain, and digital assets. Today, we bring you exclusive information on the recent influx of investment into digital asset products.
According to CoinShares, digital asset investment products received a whopping $1.35 billion in inflows last week, indicating a strong positive sentiment in the market. This surge in investment brings the total inflows over the past three weeks to an impressive $3.2 billion.
Bitcoin took the lead in attracting these inflows, with $1.27 billion pouring into the popular cryptocurrency. Conversely, short-Bitcoin exchange-traded products saw outflows of $1.9 million, contributing to a cumulative outflow of $44 million since March. This highlights the prevailing optimism surrounding Bitcoin, particularly following the April halving event.
In addition to Bitcoin, Ethereum also experienced a positive trend, with $45 million in inflows last week. Ethereum now holds the title of the altcoin with the highest year-to-date inflows, amounting to $103 million, surpassing other altcoins like Solana and Litecoin.
On a regional level, the United States and Switzerland led the pack with significant inflows, while Brazil and Hong Kong saw minor outflows. ETP trading volumes surged by 45% week-on-week, reaching $12.9 billion, although they represented a lower percentage of the overall crypto market volumes.
While digital asset tokens enjoyed a prosperous week, blockchain equities faced challenges with outflows of $8.5 million. Despite this, most blockchain equity ETFs outperformed global equity indices.
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