Crypto Investment Products Experience Highest Inflows Since July, Reports CoinShares

According to a recent report by CoinShares, cryptocurrency investment products have witnessed inflows for the second consecutive week, totaling $78 million. The report highlights that digital asset investment products are experiencing significant growth, reaching their highest volume levels since July 2023. During the past week, crypto investment products saw inflows of $78 million, as reported by crypto asset management firm CoinShares in its weekly analysis on October 9.

The report also noted a 37% surge in volumes of crypto exchange-traded products (ETPs) during the same week, with a total of $1.1 billion. Furthermore, Bitcoin volumes increased by 16% on trusted exchanges.

Solana, the eighth-largest cryptocurrency by market capitalization, demonstrated its popularity by reaching the highest weekly inflow levels since March 2022. While it has seen a 14% increase in value over the past month, it remains down by approximately 32% over the past year, based on data from CoinGecko.

Despite the overall growth in crypto product inflows, some major crypto investment products, such as United States Ethereum futures exchange-traded funds (ETFs), have experienced more modest interest. The US Ethereum ETFs, which began trading on October 2, attracted only around $10 million in their first week, indicating a lukewarm reception, according to CoinShares.

The report also provided geographical insights, revealing that 90% of all crypto asset inflows originated from Europe, while the US and Canada combined only saw $9 million in inflows. Germany and Switzerland were the primary contributors to the increase in inflows, accounting for $37.3 million and $31.3 million, respectively. These two countries represented 88% of all crypto asset product inflows for the week.

CoinShares is actively expanding its operations in the US, having introduced its first offerings in the country in September 2023. The company believes that the US plays a leading role in digital asset development and regulation on a global scale.