Crypto revenues close to $2 billion

Following the US election, digital asset investment products attracted $1.98 billion in inflows, marking the fifth consecutive week of positive inflows. This brought total year-to-date receipts to a new record of $31.3 billion.

Global assets under management also hit an all-time high of $116 billion following recent price increases. Trading volumes rose by $20 billion, the highest since April, though not a new record.

Bullish Market Pressures Bitcoin Short Products

According to the latest edition of CoinShares’ weekly report on digital asset fund flows, Bitcoin saw inflows of $1.8 billion, bringing the total to $9 billion since the first rate cut US Federal Reserve cycle interest rate in September.

According to the asset manager, the favorable macro environment, along with major changes in the US political system, is believed to have contributed to the strong investor sentiment.

Ethereum also recorded inflows of $157 million last week after a period of underperformance. In fact, this was the largest inflow since the launch of the Ether ETF in July, indicating a significant improvement in market sentiment towards the cryptocurrency. Next was multi-asset products, with inflows of $23.4 million over the past week.

Several other altcoins saw inflows, led by Solana with $3.9 million and Uniswap with $1 million. XRP and Tron recorded inflows of $0.5 million, while Litecoin and Cardano had smaller inflows of $0.2 million and $0.1 million, respectively. Blockchain stocks also saw inflows totaling $61 million.

During the same period, short Bitcoin products experienced outflows of $2.7 billion, marking the only cohort of digital asset investment products to see negative movement. While the broader market saw strong inflows, the outflows of short Bitcoin products suggest that investors were more cautiously positioned or betting on further price appreciation.

The US leads regional entries

The United States led regionally with $1.95 billion, followed by Europe, where Switzerland and Germany posted $23 million and $20 million, respectively. Sweden, however, recorded outflows of $25.7 million.

Breaking down, Australia and Brazil pulled in $6 million and $3.7 million in receipts over the past week. On the other hand, Canada and Hong Kong saw modest outflows of $1.7 million and $0.8 million, respectively.

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