Crypto Funds See Significant Inflow of Funds in XRP, Bitcoin, and Cardano
Digital asset investment products are continuing their bullish trend with a sixth consecutive week of inflows, totaling $261 million. This surpasses last year’s total by over $30 million.
The latest data from CoinShares indicates a substantial surge in capital inflows into cryptocurrency funds. For the past six weeks, digital asset investment products have accumulated inflows amounting to $767 million. This figure surpasses the total of $736 million seen throughout the entire year of 2022.
The current streak of investment enthusiasm matches levels last observed in July 2023 and stands as the most pronounced since the bull market’s zenith in December 2021.
Breakdown of Inflows by Specific Cryptocurrencies
Bitcoin has been the predominant magnet for these inflows, attracting $229 million and advancing its year-to-date influx to $842 million.
In contrast, short-Bitcoin investments, which bet against the currency’s value, have also seen a smaller, yet notable, inflow of $4.5 million, indicating that some investors are skeptical about the sustainability of the recent price rally.
Ethereum has witnessed its most substantial inflows since August 2022, amounting to $17.5 million. This indicates a reversal of fortunes after a prolonged period of capital outflows totaling $107 million this year.
Among other alternative coins, Solana has experienced inflows of $11 million, with Chainlink drawing $2 million, representing a notable 17% of its total assets under management. Smaller yet positive inflows were noted for Polygon, Cardano, and XRP, with $0.8 million, $0.5 million, and $0.2 million, respectively.
Breakdown by Geography
Geographical analysis reveals a pronounced pivot in investor activity, especially among U.S. investors who led with inflows of $157 million.
This is an inflection from prior trends and may reflect a growing appetite for digital assets within the region.
European countries like Germany and Switzerland, along with Canada, continue to display steady investment, contributing inflows of $63 million, $36 million, and $9 million, respectively.
About the author
Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader, and journalist with extensive experience in covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex has authored more than 1,000 stories for U.Today, CryptoComes, and other fintech media outlets. He is particularly interested in regulatory trends around the globe that are shaping the future of digital assets.