Digital asset investment products continued to see significant inflows last week, reaching the highest levels of volume since July 2023, according to a new report.
Cryptocurrency investment products saw inflows for the second week in a row, totaling $78 million, crypto asset manager CoinShares reported. mentioned In the weekly analysis report issued on October 9.
According to CoinShares, volumes of cryptocurrency exchange-traded products (ETPs) also rose 37% last week, reaching $1.1 billion. The report notes that Bitcoin (BTC) trading volumes also rose by 16% on trusted exchanges.
Solana (SOL), the eighth-largest cryptocurrency by market cap, has continued to assert itself as the “favorite altcoin” as its weekly flows reached the highest level since March 2022. At the time of writing, the cryptocurrency is up nearly 14% over the past 30 days but is still down about 32% over the past year, According to For data from CoinGecko.
Despite significant overall growth in cryptocurrency product flows, some major cryptocurrency investment products have seen more muted movements. CoinShares reiterated that US Ethereum futures exchange-traded funds (ETFs) — which first began trading on October 2 — attracted only about $10 million in the first week, highlighting “lukewarm appetite.”
Related: Bitcoin Increases Inflows of Digital Asset Products for First Time in 6 Weeks: Report
In addition to the asset-wise analysis, CoinShares also reported that 90% of all crypto asset inflows came from Europe, while the US and Canada saw only $9 million in combined inflows.
According to the data, Germany and Switzerland were the largest countries contributing to the increase in flows, recording $37.3 million and $31.3 million, respectively. Together, these countries accounted for 88% of all crypto asset product flows last week.
This news comes as CoinShares expands its operations in the US, offering its first offering in the country in September 2023. The company is confident that the US is a global leader when it comes to digital asset development and regulation.
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