Summary
- It was reported that $1.9 billion flowed into cryptocurrency investment products last week.
- The Bitcoin sector contributed the most with an inflow of $1.6 billion.
- All major countries recorded net inflows except for Sweden.
A total of $1.9 billion was reported to have flowed into cryptocurrency investment products last week.
According to CoinShares, a cryptocurrency-focused asset management firm, $1.9 billion was the net inflow into cryptocurrency investment products last week. This marks the second consecutive week of net inflows. The year-to-date net inflow amounts to $4.8 billion.
Specifically, the inflow into the Bitcoin (BTC) sector was $1.6 billion, followed by Ethereum (ETH) with $250 million, and Ripple with $18.5 million. There were no cryptocurrencies with net outflows.
By region, the United States ranked first with a net inflow of $1.7 billion. Switzerland ($34.6 million), Canada ($30.9 million), and Germany ($23.1 million) also recorded net inflows. Sweden experienced a net outflow of $5.7 million.
CoinShares stated, "The fund flows last week demonstrate that investor confidence and interest in the cryptocurrency market remain strong."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
