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For the week spanning September 22 to 28, there's been a noticeable surge in the investment flow into digital assets, as per the recent insights from the European firm CoinShares. During this period, Bitcoin investment schemes marked the most significant influx, accumulating up to $20.4 million. Another notable performer was the Solana investment scheme which gathered $5 million. According to CoinShares' data, this has been Solana's pattern for most of 2023, making it an increasingly attractive choice for investors.
Conversely, Ether investments painted a contrasting picture with a decline in funds amounting to $1.5 million. Ether's position in the market has been shaky, witnessing outflows for seven straight weeks, leading many to perceive it as a less favorable choice for investment. Other digital assets like XRP, though performing better than Solana the week before, registered negative flow this week.
The analysts at CoinShares credited Bitcoin's notable performance to a mix of factors. A buoyant price trend coupled with anxieties around U.S. government debt prices and recent complications in government funding were some of the driving factors. The complications mentioned refer to the recent tense debates surrounding the U.S. government's budget allocation. The past week had seen growing apprehension regarding a potential U.S. government shutdown on October 2. Fortunately, a timely intervention by the Senate ensured an interim solution, guaranteeing funds till November 17. The nation awaits the final decision on the longer-term funding.
Regionally, Germany, Canada, and Switzerland emerged as the front-runners. These countries recorded inflows of $17.7 million, $17.2 million, and $7.4 million in digital asset investments, in that order.
On the other hand, Australia managed to pull in just $100,000, while France saw no movement. The United States experienced a setback with outflows amounting to $18.5 million. Similarly, Sweden and Brazil marked outflows of $1.8 million and $900,000 respectively.
