Incredible Inflows: The Recent Surge in Digital Assets
Hold onto your keyboards, folks! Digital asset investment products have struck a chord with investors, experiencing inflows that reached jaw-dropping levels last week. With a hefty $78 million flowing into crypto investment products for the second week in a row, it feels like the bullish party has just started. CoinShares, the crypto asset management firm, recently shared this eye-opening detail in their latest weekly analysis report.
Exchange-Traded Products (ETPs) on Fire!
The crypto exchange-traded products (ETPs) are not just dipping their toes in the water; they’ve dived right in, with trading volumes surging by an astounding 37% to $1.1 billion. Bitcoin, the darling of the crypto world, saw its volumes rise by 16% on trustworthy exchanges. So, it seems like traders are more convinced than ever that crypto isn’t just a phase—it’s here to stay!
Solana Takes the Spotlight for Altcoin Enthusiasts
In the realm of altcoins, one name is shining brighter than others: Solana (SOL). This eighth-largest cryptocurrency by market capitalization has emerged as the underdog champion, boasting inflows that mark its highest levels since March 2022. Though it has exhibited a respectable 14% increase over the past month, it’s still facing a 32% decline from last year. Talk about a rollercoaster ride!
Muted Movement in Ethereum Futures ETFs
However, it’s not all sunshine and rainbows in the crypto landscape. Ethereum futures exchange-traded funds (ETFs) made their grand debut on October 2, but the initial reception has been lukewarm, with around $10 million in inflows. CoinShares has noted this
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