Last week, the digital asset market reached a new record as inflows hit $2.9 billion, according to CoinShares’ Digital Asset Fund Flows report. This marks the seventh consecutive week of inflows for crypto investment products.
Bitcoin led the way with inflows of $2.86 billion, pushing its market share to 97% year-to-date. Meanwhile, Ethereum, Solana, and Polygon saw minor outflows of $14 million, $2.7 million, and $6.8 million respectively.
The global trading volume for digital assets reached $43 billion, surpassing the volume for Bitcoin alone. CoinShares also noted that global ETPs surpassed $100 billion for the first time, but the recent market dip brought the total down to $97 billion.
Despite the dip, sentiment remains bullish as Bitcoin approaches its halving and altcoins are expected to reach new highs in the coming months. This could lead to further inflows into the market.
Additionally, CoinShares’ report also mentioned that this week’s inflows have pushed the year-to-date total to $13.2 billion, surpassing the full inflows for all of 2021 ($10.6 billion).
The record-breaking inflows and growing interest in digital assets demonstrate the increasing mainstream adoption of cryptocurrencies. As the market continues to evolve, we can expect to see more milestones and achievements in the future.
