Over $300 million has flowed into crypto investment products in two weeks. The altcoins pale against Bitcoin’s record.
For the second week in a row, crypto investment products have posted positive net inflows. According to asset manager Coinshares, investments over the past 14 days totaled $334 million.
Spending was highest in the largest cryptocurrency by market capitalization. “Bitcoin continued to be the focus of investor interest with inflows totaling $123 million,” Coinshares said. Ninety-eight percent of “all inflows into digital assets” ended up in Bitcoin, according to the report.
It’s a different story for altcoins. Ethereum posted a minimal gain of $2.7 million, while Litecoin, XRP and Cardano are up a few hundred thousand dollars.
According to the report, total assets under management – assets under management – currently stand at $37 billion, the highest level since June 2022, and “trading activity also remained high at $2.3 billion this week, well above the year-to-date average of $1.5 billion.”
The highest inflows during the week came from Germany – around US$65 million.
Picture Copyright: leddamarita
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