The post Digital Asset Investment Products Saw Record Weekly Inflows appeared on BitcoinEthereumNews.com.

Key Points: Digital asset investment products surged with $2.45 billion weekly inflows, totaling $5.2 billion year-to-date and $67 billion in assets under management. The United States dominated with 99% of inflows, reflecting growing interest in bitcoin ETFs. Bitcoin led inflows, Ethereum followed, but Solana’s downtime caused outflows. Digital asset investment products have witnessed a surge in weekly inflows, reaching a staggering $2.45 billion, contributing to a year-to-date influx of $5.2 billion. Record Inflows Propel Digital Asset Investment Products to New Heights This influx has driven the total assets under management (AuM) to $67 billion, marking a notable uptick since December 2021. The United States has emerged as the dominant player, accounting for 99% of the inflows, amounting to $2.4 billion. This trend signifies a growing interest in spot Bitcoin ETFs, with a widespread distribution among various providers and a significant reduction in outflows from established players. In contrast, other regions like Germany and Switzerland have experienced modest inflows, while Sweden saw outflows. Bitcoin Dominates Inflows, Solana Faces Downtime Challenges Bitcoin garnered over 99% of the inflows, although some investors capitalized on short-bitcoin positions, resulting in $5.8 million in inflows. Ethereum also witnessed a positive momentum with $21 million in inflows. However, Solana’s recent downtime impacted sentiment, leading to $1.6 million in outflows. Avalanche, Chainlink, and Polygon stood out with consistent weekly inflows this year. Investors in blockchain equity ETFs opted to capitalize on profits, leading to outflows totaling $167 million. Overall, the surge in digital asset investment products reflects a growing confidence in cryptocurrencies, particularly in the United States, where bitcoin spot-based ETFs are gaining traction amidst positive price movements and increased investor interest. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before…

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Filed under: News - @ February 20, 2024 10:22 am