Digital Asset Management Firm CoinShares Reports Bitcoin and Ethereum Leading Crypto Inflows
Digital asset management firm CoinShares has revealed that Bitcoin (BTC) and Ethereum (ETH) are at the forefront of another week of inflows in the cryptocurrency market.
Key Points:
- Institutional crypto investment vehicles received over $1 billion in inflows last week.
- This marks the 10th consecutive week of inflows for digital asset investment products.
- Total year-to-date inflows have reached a new high of $15.1 billion.
- The surge in activity earlier in the week slowed down towards the end due to the US Juneteenth holiday and emerging reports of US involvement in the Iran conflict.
CoinShares reported that Bitcoin led all inflows with $1.1 billion, indicating that investors were taking advantage of the recent price correction to buy on weakness. Meanwhile, ETH products experienced their ninth consecutive week of inflows, with a total of $2.2 billion worth of inflows, marking the longest streak for Ethereum since 2021.
Regional Inflows:
The United States led internationally with $1.25 billion in inflows, followed by Germany and Canada with $10.9 million and $20.9 million, respectively. However, Hong Kong and Switzerland saw nearly $40 million in outflows combined.
Stay Updated
For more cryptocurrency news and updates, follow us on X, Facebook, and Telegram. Subscribe to get email alerts delivered directly to your inbox to stay informed about price action and the latest trends in the crypto market.
Generated Image: Midjourney