1 billion dollars in 1 week

Ethereum extended its inflows streak to seven consecutive weeks, accumulating $3.7 billion during that period, with $1 billion last week alone.

This highlights improved investor sentiment towards the world’s second largest cryptocurrency.

The market: Distance

According to the latest edition of CoinShares’ Weekly Digital Asset Fund Flows Report, overall, digital asset investment products recorded inflows of $3.2 billion last week. This was the 10th consecutive week of positive momentum, bringing total receipts this year to $44.5 billion, four times more than any previous year.

ETPs have experienced weekly trading volumes of $21 billion on average, representing 30% of Bitcoin trading on trusted exchanges. Bitcoin’s daily trading volume across all investment types on trusted exchanges averaged $8.3 billion this year, double that of the FTSE 100.

Interestingly, Bitcoin investment products contributed $2 billion to weekly inflows, reaching $11.5 billion since the US election. Amid recent price increases, short Bitcoin products gained $14.6 million, although assets under management (AuM) in this category remain modest at $130 million.

XRP sees renewed interest

After Ethereum, XRP was the biggest winner among altcoins, seeing $145 million in inflows as hopes for a US-listed ETF rose. Another factor that may have catalyzed this trend was the imminent debut of Ripple’s new NYDFS-approved stablecoin RLUSD.

Next was Litecoin with $2.2 million in inflows over the past week, followed by Cardano with $1.9 million and Solana with $1.7 million. Additionally, Binance and Chainlink attracted $0.7 million in inflows each. On the other hand, multi-asset products faced another setback, with $31 million in outflows during the same period.

Meanwhile, a positive trend was recorded between regions, with inflows recorded in all areas. The United States topped the list with $3.14 billion in receipts. Switzerland followed with $35.6 million and Germany with $32.9 million over the past week. Brazil also posted strong entries of $24.7 million, with Hong Kong, Canada and Australia adding $9.7 million, $4.9 million and $3.8 million, respectively. In contrast, Sweden faced outflows of $19 million.

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