Last week saw over $1.24 billion flow into crypto investment products, marking the tenth straight week of inflows. This brings the year-to-date total to a record-breaking $15.1 billion.
Bitcoin and Ethereum Lead the Charge
Bitcoin (BTC) was the top performer, attracting $1.1 billion in investment. Ethereum (ETH) wasn’t far behind, experiencing its ninth consecutive week of inflows – the longest such streak since 2021 – totaling $2.2 billion. This suggests investors are buying the dip, even amidst recent price corrections. Small outflows from short-Bitcoin products further support this theory.
Regional Breakdown
The US dominated inflows, accounting for a whopping $1.25 billion. Germany and Canada also saw significant inflows, at $10.9 million and $20.9 million respectively. Conversely, Hong Kong and Switzerland experienced net outflows totaling nearly $40 million.
Despite Geopolitical Headwinds
This massive influx of investment is particularly noteworthy given ongoing geopolitical tensions. While the initial surge in investment slowed towards the end of the week – possibly due to the US Juneteenth holiday and news regarding US involvement in the Iran conflict – the overall trend remains strongly positive.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies, as it’s a high-risk market.
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