- CoinShares reports that $346 million was injected into the digital asset market last week.
- Bitcoin had the lionshare by attracting $312 million in investments, according to the report.
- The report noted that Ethereum’s $34 million weekly inflow brought its monthly inflow to $103 million.
A recent CoinShares report showed that $346 million was injected into the digital asset market last week in investment products. With that amount, it became the highest weekly inflow into the crypto market since the bull run of late 2021.
Of the recorded weekly inflows into the digital assets market, CoinShares reported that Bitcoin had the lionshare by attracting $312 million in investments, bringing the flagship crypto’s year-to-date inflows to just over $1.5 billion. Ethereum, the largest altcoin by market capitalization, attracted $34 million in investments. This week’s inflow brings Ethereum’s 4-week investment inflow to $103 million, nearly overturning this year’s outflow and redefining the flagship altcoin’s market sentiment.
CoinShares’ report showed that the growing inflows in the digital asset market are powered by various factors, notable among which is the anticipated spot ETF approvals. Other factors behind the inflows include the newfound profitability among numerous altcoins and the upcoming Bitcoin halving, which users expect to trigger the next crypto bull market.
The report identified some of the top inflow providers in institutional investments that have recently made significant investments in the digital asset market. The biggest investor in recent times, according to the CoinShares report, is Purpose Investment Inc. ETF. Purpose Investment injected $112.3 million into the digital assets market in the past week, bringing its 4-week investment volume to $246.4 million.
Apart from flows by asset and provider, CoinShares also provided information about flows by exchange country. Under this category, Canada stood out as the country with the highest inflow in recent times. The weekly inflow from exchanges in the North American country was $199.1 million, while in the past four weeks, Canadian exchanges have generated an inflow of $428.4 million.
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