Cryptocurrency investment products are riding a tide of popularity, recording significant inflows for two consecutive weeks. According to a recent report by crypto asset management firm CoinShares, the total inflow for last week was a whopping $78 million. This marks the highest volume levels since July 2023.
In the same vein, the volumes of crypto exchange-traded products (ETPs) saw a remarkable upswing, surging by 37% to reach $1.1 billion. Bitcoin(BTC) volumes joined in the crescendo, rising by 16% on trusted exchanges. Meanwhile, Solana (SOL), the eighth-largest cryptocurrency by market capitalisation, lived up to its “altcoin of choice” moniker, with weekly inflows hitting their highest level since March 2022.
However, it’s not all roses and rainbows for all crypto investment products. For instance, the United States Ethereum futures exchange-traded funds (ETFs), which took off on October 2nd, had a rather unspectacular first week. Accumulating only around $10 million, these funds underscored a less than enthusiastic appetite among investors. This serves as a stern reminder that while the overall industry may seem buoyant, isolated segments might not share the same gusto.
An interesting geographic insight revealed that Europe shouldered 90% of all crypto asset inflows, with a comparatively measly $9 million coming from the U.S and Canada respectively. Germany and Switzerland were notable contributors, posting $37.3 million and $31.3 million in inflows, accounting for 88% of the total last week.
This surge in crypto inflows, particularly from Europe, comes as CoinShares is making moves to expand in the U.S. Keen on tapping into the American market, the company, established in 2013, believes strongly in the nation’s potential as a global leader in terms of digital asset development and regulation.
In conclusion, while the crypto investment market does exhibit signs of overall growth, certain products perform less admirably, hinting at selective investor appetite. Additionally, geographical discrepancies in investment behavior pose fascinating implications for market players, both established and new.
Source: Cointelegraph
