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Digital Asset Investments Surging with Record $1.76 Billion Inflows in 10 Weeks: CoinShares

The realm of digital assets continues its staggering ascent, with a recent report from CoinShares revealing an unprecedented surge in investments. According to the Digital Asset Fund Flows Weekly Report, a whopping $176 million flowed into digital asset investment products last week alone. This marks the tenth consecutive week of substantial inflows, culminating in a monumental total of $1.76 billion in just 10 weeks.

This surge in investment represents a significant milestone, reminiscent of the fervor witnessed in October 2021 during the launch of the futures-based ETF in the United States. While the total assets under management (AuM) have escalated by an astounding 107% this year, reaching $46.2 billion, it’s important to note that this figure still falls short of the all-time high of $86.6 billion observed in 2021.

Breaking down the geographical dynamics of this surge, Canada, Germany, and the United States have emerged as the frontrunners, boasting considerable inflows of $79 million, $57 million, and $54 million respectively. However, Hong Kong experienced minor outflows amounting to $15 million, contributing to the broader trend in Asia, which has witnessed net outflows year-to-date despite the global surge.

Within the realm of digital assets, Bitcoin took center stage, attracting a staggering $133 million in inflows. Interestingly, after a three-week stretch of outflows, short-Bitcoin investment products saw a reversal with $3.6 million in inflows last week.

Ethereum, another heavyweight in the digital asset sphere, observed a noteworthy $31 million inflow last week. This marks a continuous five-week streak amounting to $134 million, a significant turnaround from the prolonged negative sentiment earlier in the year. For the first time in 2023, Ethereum’s net flows have turned positive, reaching $10 million.

Meanwhile, the allure of blockchain equities remains undiminished, showcasing a consistent seven-week streak of inflows. The $17.4 million inflow recorded last week stands as the largest since July 2022, underlining the enduring investor interest in this sector.

Despite the remarkable surge in digital asset investments globally, the Asian region, while witnessing significant inflows in specific countries, has seen year-to-date net outflows. This intricate interplay of investments across regions underscores the complex and dynamic nature of the digital asset landscape.

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