PANews reports that CoinShares' latest weekly report reveals that digital asset investment products experienced a third consecutive week of inflows, totaling $1.2 billion. This trend may reflect ongoing expectations of dovish monetary policy in the United States and related positive price momentum. Notably, the total assets under management grew by 6.2% last week, a significant indicator for investors and market analysts alike.
The approval of options for specific U.S. investment products could have bolstered market sentiment, although it's interesting to note that trading volumes did not see a corresponding increase; they slightly declined by 3.1% week-over-week. Regionally, the market sentiment displayed a polarized landscape.
The United States and Switzerland attracted inflows of $1.2 billion and $84 million, respectively. Switzerland's inflows reached their highest level since mid-2022, signaling a potential resurgence in investor confidence. In stark contrast, Germany and Brazil recorded outflows, with figures standing at $21 million and $3 million, respectively. When delving into specific assets, Bitcoin stood out by attracting a whopping $1 billion in inflows.
This surge was accompanied by an additional investment in short Bitcoin products amounting to $8.8 million, showcasing a diversified outlook among traders. Ethereum marked a significant milestone by breaking a five-week losing streak with inflows of $87 million, indicating renewed investor interest.
This was the first measurable inflow for Ethereum since early August. However, not all cryptocurrencies shared this fortune; Solana faced outflows totaling $4.8 million, reflecting a more cautious sentiment towards certain altcoins. The sentiment towards altcoins also presented a mixed picture. While Litecoin and XRP witnessed inflows of $2 million and $800,000, respectively, BNB and Stacks faced challenges with outflows of $1.2 million and $900,000, respectively.
This further emphasizes the dynamic and often unpredictable nature of the digital asset market, where investor sentiment can swiftly shift based on prevailing market conditions and macroeconomic factors..