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Amid investor sentiment signaling ‘greed,’ cryptocurrency investment products saw weekly inflows of $117 million last week — the highest since July 2022, according to a CoinShares report. Investors are almost solely focusing on Bitcoin, which saw inflows of $116 million.
Total assets under management (AuM) of investment products increased 43% from November lows to $28 billion. The trading volume of investment products also improved to $1.3 billion in the week of Jan. 23 — up 17% compared to the year-to-date average. Comparatively, the average weekly volumes in the larger crypto market jumped by 11%.
Germany accounted for 40% of all inflows last week at $46 million. Canada, the U.S., and Switzerland saw inflows of $30 million, $26 million, and $23 million respectively.
Multi-asset investment products kept losing money for the ninth consecutive week. Last week, outflows totaled $6.4 million, although CoinShares noted that investors are selectively quitting certain investments. This is because while Solana, Cardano, and Polygon saw inflows, Bitcoin Cash, Stellar, and Uniswap experienced minor outflows.
The post Crypto investment products see weekly inflows of $117M, highest since July 2022 appeared first on CryptoSlate.
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