jack anderson
November 26, 2024 18:00
Bitcoin ETFs set a new record for digital asset investments last week, drawing an unprecedented $3.12 billion in inflows, according to CoinShares.
According to CoinShares, the Bitcoin exchange-traded fund (ETF) reached a significant milestone, recording its highest weekly inflows ever at $3.12 billion. These significant inflows have pushed digital asset investments to a new high, totaling $37 billion to date.
record influx
Digital asset investment products recorded a surprising weekly inflow of $3.13 billion, driven primarily by Bitcoin. This surge surpasses the initial performance of the US gold ETF, which raised just $309 million in its first year. Inflows came mainly from the United States and amounted to $3.2 billion, while countries such as Germany, Sweden and Switzerland saw outflows of $40 million, $84 million and $17 million respectively as investors took advantage of high prices. It happened.
Bitcoin dominates, Solana outperforms Ethereum.
Bitcoin alone attracted $3 billion in inflows, with an additional $10 million going into short Bitcoin investment products. This is the highest inflow since August 2022, bringing the monthly figure to $58 million. Solana has outperformed Ethereum in the same period, attracting $16 million in inflows compared to Ethereum’s $2.8 million, but it lags Ethereum on a year-to-date basis.
Global Investment Trends
While some European countries experienced outflows, other regions saw positive trends. Australia, Canada and Hong Kong reported inflows of $9 million, $31 million and $30 million, respectively. Altcoins such as XRP, Litecoin, and Chainlink also saw significant interest, with inflows of $15 million, $4.1 million, and $1.3 million respectively. However, multi-asset investment products saw outflows totaling $10.5 million for the second week in a row.
Visit CoinShares for more insights and detailed analysis.
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