Digital asset manager CoinShares said institutional investors invested more than $3 billion in cryptocurrency products last week.
Latest Digital Asset Fund Flows reportInstitutional cryptocurrency investment products surged in net inflows of $3.13 billion last week, setting a new inflow record, according to CoinShares.
“Digital asset investment products recorded record weekly inflows totaling $3.13 billion, bringing total inflows to $15.2 billion since mid-September when interest rates were first cut in the US. Annual inflows now stand at a record $37 billion, driven primarily by Bitcoin, far surpassing the debut of the US gold ETF, which attracted just $309 million in its first year.”
The United States ranked first globally with regional inflows of $3.2 billion. Germany, Sweden and Switzerland reduced inflows, totaling $141 million in outflows.
“More positive sentiment was seen in Australia, Canada and Hong Kong, with inflows of US$9 million, US$31 million and US$30 million respectively.”
Bitcoin (BTC) accounted for the largest share of revenue at $3 billion. Solana (SOL) surpassed rival smart contract platform Ethereum (ETH) with inflows of $16 million compared to ETH’s $2.8 million. XRP, Litecoin (LTC), and Chainlink (LINK) recorded $15 million, $4.1 million, and $1.3 million, respectively, while multi-asset vehicles that invest in more than one cryptocurrency brought in $10.5 million. . .
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