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In recent data, it has been revealed that investment in digital assets is on the rise, experiencing its highest volume since July 2023. According to CoinShares, a respected crypto asset management firm, these investment products have seen a consecutive upswing, amassing $78 million as of October 9th.
Crypto exchange-traded products (ETPs) have followed suit, mirroring this positive trend with a 37% increase in the past week, pushing their total value to $1.1 billion. Meanwhile, Bitcoin, a key player in the cryptocurrency world, has enjoyed a 16% surge in trading volume on recognized exchanges.
Solana, currently ranked as the eighth-largest cryptocurrency by market value, has demonstrated remarkable momentum. Weekly inflows for Solana have reached levels not seen since March 2022. However, while Solana has witnessed a 14% increase in the last month, it has also experienced a 32% decline over the past year, according to data from CoinGecko.
Despite the promising outlook for the overall crypto investment landscape, some key investment products have shown sluggish performance. Notably, U.S. Ethereum futures exchange-traded funds, which began trading on October 2nd, attracted only $10 million in their opening week, prompting CoinShares to describe this as a "tepid appetite."
Geographically, Europe has stood out as a major contributor, accounting for a staggering 90% of all crypto asset influx. In contrast, the combined inflow from the U.S. and Canada amounted to a mere $9 million. Within Europe, Germany and Switzerland emerged as the primary drivers, bringing in $37.3 million and $31.3 million, respectively. These two nations alone represented 88% of last week's total crypto asset inflow.
In related news, CoinShares is expanding into the U.S. market, introducing its first offerings there in September 2023. The firm maintains its belief in the pioneering role of the U.S. in the digital asset sphere, both in terms of innovation and regulatory measures.
