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Digital Asset Investments Stage a Comeback; Bitcoin Reigns Supreme With $87.6M Inflows

Digital Asset Investments Stage a Comeback; Bitcoin Reigns Supreme With $87.6M Inflows

CryptopotatoCryptopotato2023/12/27 11:41
By:Chayanika DekaMore posts by this author

Despite the overall recovery, Avalanche and Litecoin investment products encountered declines.

Digital asset investment products resumed inflows after breaking the 11-week streak of positive cash flows. According to the findings by CoinShares’ Head of Research, James Butterfill, the net inflows totaled $103 million over the last week.

Bitcoin investment products, as usual, attracted the highest capital inflow. The digital asset manager revealed a net inflow of $87.6 million during the period. Short-bitcoin also experienced a minor inflow amounting to $0.3 million.

  • Ethereum investment products saw positive activity, recording a net inflow of $7.9 million, while Solana investment products attracted a net influx of $6 million.
  • Among the altcoins, Avalanche and Litecoin were the only ones recording outflows of $2.6 million and $0.4 million, respectively, over the past week.
  • In terms of geographical distribution, the frontrunners in investment were Germany, Canada, and the USA, with money flowing in at $41.6 million, $25.8 million, and $20.4 million, respectively.
  • Switzerland, Brazil, Australia, and France followed suit with inflows of $15 million, $8 million, $1.2 million, and $0.3 million, respectively. On the flip side, Sweden experienced outflows amounting to $8.7 million.
  • The latest estimates indicate a mild recovery from the previous CoinShares report , which revealed the end of an 11-week streak of positive cash flows for digital asset investment products, concluding with withdrawals totaling $16 million.
  • During that period, Bitcoin witnessed the most significant impact, with outflows of $33 million. While most altcoins managed to buck the trend and post inflows, products focused on Ethereum and Avalanche experienced modest declines.

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  • Solana Emerges as the Most Loved Altcoin This Year With $5M Inflows: CoinShares
  • Digital Asset Investments Hit $1.14 Billion YTD: CoinShares
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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