CoinShares recently reported that digital asset investment products have seen an impressive influx of capital, totaling $261 million for the sixth consecutive week. This marks a significant rise compared to the $736 million invested throughout the entirety of 2022.
The surge in inflows is reminiscent of the bull market peak in December 2021, and points to a growing appetite among investors. Bitcoin has been the primary recipient of this capital, having accumulated $229 million, while Ethereum has experienced its highest inflows since August 2022 at $17.5 million.
In terms of geographical breakdown, U.S. investors have led the way with a total of $157 million. European countries such as Germany and Switzerland, as well as Canada, have also contributed $63 million, $36 million and $9 million, respectively.
Aside from Bitcoin and Ethereum, other alternative coins have seen smaller yet positive inflows. These include Solana ($11 million), Chainlink ($2 million), Polygon ($0.8 million), Cardano ($0.5 million), and XRP ($0.2 million).
Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering the industry, from price analysis to Blockchain disruption. He has authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. Alex is particularly interested in regulatory trends around the globe, and can be contacted at email@example.com.