Institutional investors showed massive confidence in crypto last week, pouring a record-breaking $3.13 billion into digital asset investment products. This is according to CoinShares’ latest report, marking the largest weekly inflow ever recorded.
A Billion-Dollar Week for Bitcoin
The surge in investment is a significant event, pushing total inflows since mid-September to a staggering $15.2 billion. This year alone, inflows have reached a record $37 billion, primarily driven by Bitcoin. This growth significantly surpasses the early success of US Gold ETFs, which only attracted $309 million in their first year. Bitcoin itself saw the lion’s share of this investment, attracting around $3 billion.
Regional Breakdown: US Leads, Others Follow
The United States led the way in inflows, with a massive $3.2 billion. However, some European countries saw outflows, with Germany, Sweden, and Switzerland reporting a combined $141 million outflow. Other regions showed more positive sentiment, with Australia, Canada, and Hong Kong seeing inflows of $9 million, $31 million, and $30 million respectively.
Beyond Bitcoin: Other Crypto Winners
While Bitcoin dominated, other cryptocurrencies also saw significant inflows. Solana (SOL) outperformed Ethereum (ETH), attracting $16 million compared to ETH’s $2.8 million. XRP, Litecoin (LTC), and Chainlink (LINK) also saw positive inflows, with $15 million, $4.1 million, and $1.3 million respectively. Multi-asset investment vehicles also saw inflows of $10.5 million.
Disclaimer:
This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in any cryptocurrency.
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