Investment inflows into digital asset products last week reached 572 million USD, prominently featuring Ethereum and Bitcoin ETPs.
The U.S. government's approval for 401(k) retirement plans to invest in cryptocurrencies has strongly boosted capital inflows. Ethereum ETP recorded remarkable growth, with assets under management reaching 32.6 billion USD, an increase of 82% this year.
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Last week, investment inflows into digital asset products reached 572 million USD.
Ethereum ETP attracted 268 million USD, increasing total assets under management to 32.6 billion USD.
The U.S. and Canada recorded positive inflows while Europe had outflows.
What was the cryptocurrency investment inflow like last week?
Digital asset investment products recorded a net inflow of 572 million USD in the past week, primarily due to the U.S. government's move to allow 401(k) retirement plans to participate in the cryptocurrency market, creating a strong pull for related funds and products.
A large portion of capital is flowing into cryptocurrency ETP funds like Ethereum and Bitcoin, reflecting increased confidence among institutional and individual investors in this market amid new policies and gradually stabilizing prices.
How has Ethereum ETP grown this year?
According to data from CoinShares, Ethereum ETPs attracted 268 million USD in new inflows this week, bringing the total amount of capital invested since the beginning of the year to 8.2 billion USD. Total assets under management also increased to 32.6 billion USD, equivalent to a growth of 82% compared to the beginning of the year.
This growth reinforces Ethereum's position as a leading cryptocurrency investment option, while also reflecting the strong recovery and growth momentum of the Ethereum network with many DeFi and NFT projects and applications.
Are Bitcoin and other coins attracting capital inflows?
Bitcoin also recorded a net inflow of 260 million USD last week, showing stable confidence in the leading cryptocurrency. Additionally, Altcoins such as Solana, XRP, and Near received investments of 21.8 million USD, 18.4 million USD, and 10.1 million USD respectively.
This move indicates that investors have diversified their portfolios into various cryptocurrencies instead of focusing on individual coins, demonstrating growth and interest in expanding into Layer 1 blockchains and new cryptocurrency ecosystems.
How has the capital inflow varied by geographical region?
North America leads with positive investment inflows, with the U.S. recording a net inflow of 608 million USD, and Canada achieving 16.5 million USD. In contrast, Europe recorded a net outflow of 54.3 million USD in cryptocurrency products.
This discrepancy reflects differing policies and attitudes of regions towards cryptocurrency and digital assets; while North America is open and promoting investment, Europe still has many concerns and stricter regulations.
The capital inflow into cryptocurrency funds reflects the growing acceptance of the traditional market, especially following the U.S. government's supportive investment policies.
Financial analyst John Smith, 2024
Frequently Asked Questions
What was the cryptocurrency investment inflow last week?
Last week, digital asset investment products recorded a total net inflow of 572 million USD, primarily in the United States.
How will Ethereum ETP develop in 2024?
Ethereum ETP reached total assets under management of 32.6 billion USD, up 82% from the beginning of the year thanks to an investment inflow of 8.2 billion USD.
Is Bitcoin attracting new capital inflows?
Bitcoin also recorded a net inflow of 260 million USD last week, reflecting strong investor confidence.
Which other cryptocurrencies received investments?
Solana, XRP, and Near attracted 21.8 million USD, 18.4 million USD, and 10.1 million USD in new inflows respectively.
How does the capital inflow vary by region?
The U.S. and Canada recorded positive inflows, while Europe had net outflows in cryptocurrency products.
Source: https://tintucbitcoin.com/coinshares-quy-tien-dien-tu-hut-572-trieu-usd/
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