Crypto investment products saw inflows for the second consecutive week, totaling $78 million, the highest volume levels since July 2023, according to a report by CoinShares.
For the second week, crypto investment products saw $78m of inflows. CoinShares recorded a 37% rise in crypto exchange-traded products (ETPs) volumes, at $1.1 billion.
Bitcoin products received the majority of the investments, amounting to $44.2 million and the trading volume of BTC crypto exchanges shot up by 16%.
In altcoins solana chains native token SOL is favoured by investors even more than ETH or ADA as it has the inflows of $24 M which is also its highest in a week since march 2022.
CoinShares says the investments are coming mainly from Europe as it oversaw inflows of $71 million which is 90% of all inflows.
On the other hand only $9 million were invested in United States Ethereum futures exchange-traded funds (ETFs) during their first week of trading, commencing on October 2, suggesting little demand there.
Also Read: Nine Ethereum Futures ETFs Struggle To Gain Traction On Launch
The top two countries that contributed towards increasing inflows included Germany and Switzerland, by $37.3 million and $31.3 million respectively. Just two of these countries contributed to this with 88% of all crypto asset product inflows recorded last week.
In addition, they are expanding their business to the U.S. in line with their belief that the U.S. is a leader in developing and regulating digital assets. They expect to introduce the first coinshares offering in September 2023.
Also Read: CoinShares Launches Hedge Fund for U.S. Investors
