Crypto investment products see highest inflows since July: CoinShares

Investment products experience significant inflows

Last week, digital asset investment products received their largest volume of inflows since July 2023, according to a report by crypto asset management firm CoinShares. Inflows reached a total of $78 million, marking the second consecutive week of growth. CoinShares also reported a surge in volumes of crypto exchange-traded products (ETPs), which rose by 37% to $1.1 billion. Additionally, Bitcoin volumes increased by 16% on trusted exchanges.

Solana asserts dominance among altcoins

Solana (SOL), the eighth largest cryptocurrency by market capitalization, continued to establish itself as the preferred "altcoin" last week as its weekly inflows reached the highest level since March 2022. Although the cryptocurrency has seen a 14% increase in the past 30 days, it remains down 32% over the past year, according to CoinGecko.

Some major investment products see limited movements

Despite the overall growth in crypto product inflows, certain major investment products experienced more modest movements. The United States Ethereum futures exchange-traded funds (ETFs), which began trading on Oct. 2, only attracted approximately $10 million in the first week, indicating a "tepid appetite."

Europe dominates inflows

CoinShares' data reveals that 90% of all crypto asset inflows originated from Europe, with the United States and Canada receiving just $9 million in combined inflows. Germany and Switzerland were the top contributors to the inflow rise, accounting for 88% of the total last week with inflows of $37.3 million and $31.3 million, respectively.

CoinShares looks to expand in the United States

CoinShares is currently expanding its operations in the United States, having introduced its first offerings in September 2023. The company expressed confidence in the US as a global leader in digital asset development and regulation.