2023-11-28 08:03:22
According to one analyst firm, a staggering amount of money flowed into investment products related to digital assets last week. According to Coinshares figures, there were $346 million worth of inflows last week. This is the culmination of a steadily increasing inflow trend over the past nine weeks and shows a level of bull market enthusiasm last seen in late 2021. Crypto Markets Are Very Optimistic – Inflow Figures Show That Total AUM reached $45.3 billion, an 18-month high. Canada and Germany accounted for 87% of the total inflow, with just over $300 million poured into crypto products from the two countries. In the United States, on the other hand, the figure barely reached 30 million dollars. This is probably due to the fact that investors in the USA prefer to wait for the launch of the exchange-traded Bitcoin spot fund. Regardless, the United States still has the largest managed capital stock in terms of digital assets, at $33.1 billion. Bitcoin showed an inflow of $311.5 million in relation to last week, so it has already exceeded $1.5 billion in annual terms. In terms of inflows, Ethereum took second place with $33.5 million. And so, in the last four weeks, the number two cryptocurrency is already over $103 million. In other respects, this was especially good for ETH’s market capitalization and seems to neutralize the outflows experienced earlier this year. The inflow into Solana, Polkadot and Chainlink cryptocurrencies was more subdued compared to BTC and ETH, but overall it can be called significant for diversification. The role of exchange-traded products (ETP) remains significant, accounting for 18% of Bitcoin inflows last week. Overall, the market is very optimistic and everyone is waiting with bated breath for the approval of the American bitcoin spot ETF.
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