The post Digital Asset Fund Flows Show Bitcoin Leading with Significant Inflows appeared on BitcoinEthereumNews.com.

Digital asset investment products witnessed a third consecutive week of inflows, totaling $1.2 billion, as investors reacted positively to expectations of a dovish monetary policy in the United States. Despite the substantial inflows, trading volumes experienced a slight decline of 3.1% on a week-on-week basis. Assets under management (AuM) increased by 6.2% over the past week, indicating growing interest in digital investments, driven in part by the approval of options for certain US-based investment products. According to CoinShares, we see that the inflows were largely concentrated in the United States and Switzerland, where digital asset products saw inflows of $1.2 billion and $84 million, respectively. The inflows in Switzerland were the highest since mid-2022. However, contrasting sentiment was observed in other regions, with Germany recording outflows of $21 million, and Brazil seeing $3 million in outflows. Bitcoin Dominates Inflows as it Gains Traction Bitcoin led the inflow activity with a massive $1 billion entering investment products. The positive sentiment surrounding Bitcoin also spurred interest in short-bitcoin products, which saw inflows of $8.8 million. This reflects a hedging approach by investors looking to capitalize on both the upside and downside of Bitcoin’s price movements. Ethereum, which had been experiencing a five-week run of outflows, finally saw a positive shift, recording inflows of $87 million. This marks the first measurable inflows for Ethereum since early August, reflecting renewed investor confidence in the asset. Among altcoins, sentiment remained mixed. Solana faced outflows amounting to $4.8 million, while Litecoin and XRP saw modest inflows of $2 million and $0.8 million, respectively. On the other hand, Binance and Stacks recorded outflows, with Binance seeing a withdrawal of $1.2 million and Stacks losing $0.9 million. The week’s inflows highlight a continued positive trend for digital asset investment products, especially Bitcoin and Ethereum, driven by expectations of…

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Filed under: News - @ September 30, 2024 8:27 pm