Source: blockchain.news
In the latest CoinShares update, digital asset investment products have seen a significant inflow of $136 million in the past week. This increase marks the third consecutive week of inflows, totaling $470 million, effectively offsetting the outflows seen in the previous nine weeks.
Bitcoin remains the main focus for investors, with inflows totaling $133 million last week. This trend indicates a strong investor preference for Bitcoin over altcoins. By contrast, the Bitcoin short position posted outflows of $1.8 million, marking its 11th consecutive week of outflows.
Despite the general upward trend, the volume of trade has decreased. Investment goods totaled $1 billion last week, down from $2.5 billion on average for the previous two weeks. This volume decline could be attributed to seasonal impacts, as lower volumes are normal for July and August.
Ethereum, another major player in the digital asset market, had $2.9 million in inflows last week. However, it has benefited very little from the increase in market confidence. Inflows over the previous three weeks represent just 0.2% of total assets under management (AuM), compared to 1.9% for Bitcoin. Ethereum continues to have negative net flows so far, with outflows totaling $63 million.
Other altcoins including Solana, XRP, Polygon, Litecoin, and Aave also saw inflows. However, Cosmos and Cardano saw minor exits.
In another noteworthy development, blockchain stocks posted the biggest inflows in a year, totaling $15 million.
Read More at blockchain.news