Investors Interested in Digital Assets Despite Volatile Market
The European cryptocurrency investment company CoinShares released its «Digital Asset Fund Flows Report» on February 6. The report revealed that investors are demonstrating a strong interest in digital asset investment products, with inflows totaling $76 million last week, marking the fourth consecutive week of inflows.
The research suggests that investor attitude has shifted for the beginning of 2023, with year-to-date inflows already standing at a total of $230 million. This expansion has resulted in a rise in the overall assets under management (AUM), which have just reached their highest level since the middle of August 2022, when they stood at $30.3 billion.
Bitcoin (BTC) continues to be the primary centre of investor attention, as seen by its weekly inflows of $69 million, which represent for 90% of the overall flows for the week. The United States, Canada, and Germany are the primary contributors to this increase in investment, with weekly inflows of $38 million, $25 million, and $24 million, respectively.
However, perspectives on whether or not this rise can be sustained are split, and short-Bitcoin inflows of $8.2 million have been recorded during the same time period. Despite the fact that these inflows are very tiny in comparison to long-term Bitcoin inflows, over the course of the last three weeks, they have contributed an additional 26% of the entire AUM. Despite this, the short Bitcoin trade has not garnered a significant amount of interest so far in 2018, as measured by the total assets under management for short Bitcoin declining by 9.2%.
The value of investment products based on alternative cryptocurrencies such as Solana (SOL), Cardano (ADA), and Polygon (MATIC) all saw slight losses. Ether
Read more on blockchain.news
