Chain News Daily Today TheBitTimes.com

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer ...

Digital asset investment vehicles are setting record yearly flows after a month of inflows, according to leading crypto asset management firm CoinShares. In its latest Digital Asset Fund Flows Weekly Report, CoinShares says that crypto exchange-traded products (ETPs) enjoyed nearly a billion dollars in inflows last week alone. “Digital asset investment products recorded a fourth consecutive week of inflows, totaling US$882m globally. Year-to-date (YTD) inflows now stand at US$6.7bn, approaching the US$7.3bn peak reached in early February this year. We believe the sharp increase in both prices and inflows is driven by a combination of factors: a global rise in M2 money supply, stagflationary risks in the US, and several US states approving Bitcoin as a strategic reserve asset.” While Canada and Hong Kong saw $8 million and $4.3 million in outflows, the United States led the world with $840 million in inflows, followed by Germany and Australia at $44.5 ...

ETP inflows continued last week, reaching $176 million, a much larger share of the cryptocurrency’s total volume. According to the CoinShares report, the positive dynamics of capital inflows have continued for eight weeks in a row. Meanwhile, ETP’s share of total cryptocurrency volumes is growing, averaging 11% compared to the long-term historical average of 3.4% and well above the 2020-2021 bull market averages. However, inflows still lag significantly behind 2021 and 2020 figures of $10.7 billion and $6.6 billion, respectively. Weekly crypto asset flows | Source: CoinShares Trading volumes grew to an average of $3 billion per week, double this year’s average of $1.5 billion. You might also like: Altcoin market on brink of parabolic growth, analyst predicts Bitcoin (BTC) remains dominant, with inflow s of $155 million over the past week. Moreover, over the past eight weeks, the inflow amounted to 3.4% of the total asset s under management. “We b...