Digital asset investment products have experienced a significant increase in inflows, reaching the highest volume levels seen since July 2023, according to a new report from crypto asset management firm CoinShares. Over the past week, crypto investment products witnessed inflows for the second consecutive week, totaling $78 million. Furthermore, the volumes of crypto exchange-traded products (ETPs) also surged by 37% during the same period, reaching a total of $1.1 billion. The report highlights that Bitcoin (BTC) volumes rose by 16% on trusted exchanges.
One particular altcoin that has garnered attention is Solana (SOL). As the eighth largest cryptocurrency by market capitalization, Solana has continued to establish itself as the “altcoin of choice,” with its weekly inflows reaching the highest level since March 2022. Although Solana has seen a 14% increase over the past 30 days, it is still down approximately 32% over the past year, based on data from CoinGecko.
Interestingly, while there has been a general growth in crypto product inflows, some major crypto investment products have experienced more muted movements. For instance, the United States Ethereum futures exchange-traded funds (ETFs) saw only around $10 million in inflows during their debut trading week on October 2. CoinShares described this level of activity as indicating a “tepid appetite” among investors.
Apart from analyzing specific digital assets, CoinShares also provided insights into the geographic distribution of crypto asset inflows. The report reveals that 90% of all crypto asset inflows came from Europe, while the United States and Canada saw a combined total of only $9 million in inflows. Germany and Switzerland emerged as the biggest contributors to the overall rise in inflows, with $37.3 million and $31.3 million respectively. Together, these two countries accounted for 88% of all crypto asset product inflows in the past week.
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CoinShares’ focus on expansion has led it to make strides in the United States market, with the introduction of its first offerings in September 2023. The firm remains confident in the leadership of the United States when it comes to digital asset development and regulation.
In conclusion, the latest report from CoinShares highlights the significant increase in inflows seen in digital asset investment products. With crypto investment products witnessing consecutive weeks of inflows and the surge in volumes of crypto ETPs, it is evident that investor interest in the crypto market remains robust. While some major crypto investment products may have experienced modest activity, altcoins like Solana continue to attract attention. Additionally, the geographic distribution of inflows demonstrates the dominance of Europe in the crypto asset market, with Germany and Switzerland leading the way. With CoinShares’ expanding presence in the United States, it further reinforces the belief that the U.S. remains a significant player in the global digital asset landscape.
