Digital asset investment inflows hit $43m in 11th consecutive week

2023-12-11 15:19:01

According to a Dec. 11 CoinShares report, digital asset investment products have hit the 11th consecutive week of inflows at $43 million

When comparing regions, Europe led with $43 million in inflows, while the U.S. followed with $14 million, half of which was allocated to short positions.

Bitcoin as a focal point

As stated in the report, Bitcoin (BTC) remains a crucial focus, attracting $20 million in inflows, bringing the year-to-date total to $1.7 billion. Notably, short positions on Bitcoin received $8.6 million in inflows, reflecting concerns about the sustainability of current price surges.

At the same time, Ethereum (ETH) marked its sixth consecutive week of inflows, totaling $10 million. Just seven weeks ago, Ethereum experienced year-to-date outflows of $125 million, showcasing a substantial recovery. Altcoins Solana and Avalanche maintained their popularity with $3 million and $2 million in inflows, respectively.

Furthermore, blockchain equities witnessed a milestone with their most significant weekly inflows on record, reaching $126 million.

A strategic asset

A few days earlier, CoinShares shared a report highlighting that Bitcoin was a pivotal strategic asset for portfolio exposure management

This recommendation aligns with a substantial uptick in inflows to digital asset investment products, totaling $1.7 billion in the past nine weeks. At the time, the most significant surge since late 2021 is considered to be the continuation of a bull run.

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