Coinshares reports $1.2 billion in digital asset inflows, with Bitcoin leading the charge at $1 billion. Ethereum breaks its negative streak, while altcoins experience mixed results.
Bollywoodfever: Coinshares, through its lead research analyst James Butterfill, has reported a third consecutive week of inflows into digital asset investment products, totaling $1.2 billion. The increase reflects growing optimism around continued expectations of dovish U.S. monetary policy, with Bitcoin dominating the inflows.
Bitcoin Leads Crypto Inflows
According to Butterfill, Bitcoin (BTC) accounted for $1 billion of the total inflows, driven by positive sentiment stemming from expectations of favorable U.S. monetary policy. Despite this significant uptick in assets under management (AUM), which increased by 6.2%, overall trading volumes decreased by 3.1%. This suggests that while inflows were strong, actual trading activity did not reflect the same momentum.
The recent approval of options for certain U.S.-based digital investment products likely contributed to the rise in sentiment. Regionally, the U.S. led with $1.2 billion in inflows, followed by Switzerland with $84 million, marking its highest inflows since mid-2022. However, not all regions fared as well. Germany and Brazil saw outflows of $21 million and $3 million, respectively.
Ethereum and Altcoins See Mixed Results
Ethereum (ETH) saw its first positive inflows since August, totaling $87 million, breaking a five-week negative streak. However, the altcoin market exhibited mixed sentiment. Litecoin (LTC) and XRP saw minor inflows of $2 million and $0.8 million, respectively, while Solana (SOL) and Binance Coin (BNB) experienced outflows of $4.8 million and $1.2 million.
Butterfill emphasized the polarization in altcoin sentiment, which reflects broader uncertainties surrounding digital asset investments. Notably, short-bitcoin products also attracted $8.8 million in inflows, indicating that despite the overall optimism, some investors remain cautious about Bitcoin’s future price movements.
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