Amid investor sentiment signaling ‘greed’, cryptocurrency investment products saw weekly inflows of $117 million last week — the most since July 2022, according to a CoinShares report. Investors are almost exclusively focused on Bitcoin, which saw an inflow of $116 million.
Total assets under management (AuM) of investment products rose 43% from November lows to $28 billion. Trading volume in investment products also improved to $1.3 billion in the week beginning January 23 – a 17% increase compared to the year-to-date average. Comparatively, average weekly volumes in the larger crypto market jumped 11%.
Last week Germany accounted for 40% of all inflows with 46 million dollars. Canada, the US and Switzerland recorded inflows of USD 30 million, USD 26 million and USD 23 million respectively.
Multiple investment products continued to lose money for the ninth week in a row. Last week, outflows totaled $6.4 million, although CoinShares noted that investors were selectively exiting certain investments. This is because Solana, Cardano and Polygon saw inflows, while Bitcoin Cash, Stellar and Uniswap experienced smaller outflows.
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