The global crypto investment market has witnessed a significant influx of capital, with recent reports indicating a continued positive trend in inflows. According to the latest data from CoinShares, digital asset investment products have seen an additional $1.35 billion in net inflows last week.
This recent injection of funds has brought the total for the current positive streak to $3.2 billion. The fact that money has been flowing to this extent is a testament to the amount of steam behind recent market sentiment and confidence among investors regarding cryptocurrencies.
According to Coinshares, this inflow trend is not isolated to one particular cryptocurrency but is rather widespread across various digital assets.
The report reveals that major asset managers such as Ark Invest, Bitwise, BlackRock, Fidelity, Grayscale, ProShares, and 21Shares have all reported substantial inflows.
Which Crypto Asset Led The Charge?
Unsurprisingly, most investments still flow into Bitcoin, with decent contributions from Ethereum and other altcoins.
According to the report, Bitcoin registered roughly $1.27 billion of inflows last week, with short-Bitcoin exchange-traded products (ETPs) seeing further outflows of $1.9 million, bringing outflows since March to US$44 million.
Notably, the transaction volume spurred so far has contributed to a 45% week-over-week increase in ETP trading volumes, representing 22% of the broader crypto market’s total trading volumes.
Aside from Bitcoin’s continuous dominance, Ethereum’s recent performance relative to other altcoins has also been noteworthy.
James Butterfill, Head of Research at CoinShares, noted a turning point in investor portfolio allocation, with Ethereum overtaking Solana for net inflows year-to-date. Butterfill noted:
The outlook for Ethereum seems to have turned a corner, seeing a further US$45m of inflows last week, overtaking Solana for the altcoin with the most inflows year-to-date (YTD) at US$103m. Solana also saw inflows last week totalling US$9.6m, but now lags Ethereum with US$71m inflows YTD.
This change can be seen as important since it suggests a larger market rotation where investors may be re-aligning their portfolios with Ethereum as it continues to see potential strong long-term growth prospects, such as the upcoming launch of its spot exchange-traded funds (ETFs).
Furthermore, investment flows have also varied significantly across regions. While the US and Switzerland top the table by a margin, there were only small net outflows from Brazil and Hong Kong.
Market Performance Over The Past Week
While the crypto market fund flows have been positive in the past week, the global price performance also appears to have mirrored this positiveness. Over the past week, the global crypto market valuation has surged from $2.4 trillion to $2.6 trillion.
This increase comes against the backdrop of Bitcoin seeing a notable recovery that brought its price to trade as high as above $68,000 earlier today before now trading below $67,000 at the time of writing.
Ethereum and Solana, on the other hand, have also managed to see a recovery in price, just like Bitcoin. Interestingly, although Ethereum seems to be overtaking Solana in fund flows, SOL refuses to accept defeat regarding price performance.
Particularly, according to data, between these two assets, SOL has been the top gainer over the past week, up by 16.8%, a significant difference compared to ETH’s mere 2.6% surge over the same period.
Featured image created with DALL-E, Chart from TradingView
Samuel Edyme
Meet Samuel Edyme, Nickname – HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.
Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.
Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.
When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)
Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.
In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.
Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think’s probably unfeasible, I’ve done already a hundredfold.”
PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.
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