Crypto investments are experiencing a notable phenomenon in recent weeks, as investment products in digital assets and blockchain technologies have recorded an astonishing streak of inflows totaling $767 million in six consecutive weeks.
The latest CoinShares report analyzes this income stream and demonstrates that it has surpassed the total income figure for the entire year 2022, which was $736 million.
The undisputed star of this rally has been Bitcoin, with $229 million in inflows over the last week. This performance has driven cumulative inflows into Bitcoin funds for the year to $842 million.
The surge in Bitcoin investments results from the growing likelihood of a spot market-based exchange-traded fund (ETF) in the United States, along with macroeconomic data that has been weaker than expected.
These factors have led some investors to question the effectiveness of US monetary policy.
On the other hand, Ethereum, the second largest cryptocurrency in terms of market capitalization, has also seen strong momentum. Ether investment products recorded their largest inflow since August 2022, with $17.5 million.
A Significant Change in Crypto After Facing Outflows During the Year
The bullish trend extends beyond Bitcoin and Ether. Other cryptocurrencies are also seeing investor inflows. Solana and Chainlink, for example, have received inflows worth $11 million and $2 million, respectively, with Chainlink representing 17% of total assets under management.
In contrast to the surge in crypto investments in the United States, European investors had been relatively calm.
Over the past week, US investors have led the trend by contributing regional inflows totaling $157 million.
At the same time, Germany, Switzerland and Canada have continued with steady participation, recording inflows of $63 million, $36 million and $9 million, respectively.
Investors are showing renewed interest in the digital asset market, and the trend could continue to evolve as economic and regulatory uncertainties clear up.