Digital asset investment products reported by CoinShares experienced inflows of $785 million in the last week as they sustained a strong recovery. This inflow took 2024 year-to-date total to $7.5 billion after bouncing back from previous week losses.
Investors in major areas reacted positively as the majority of new investments came from the United States throughout the week. Bitcoin outpaced other digital assets with $557 million in inflows, even if lower than last week’s figure.
Investors might be hesitant because the Federal Reserve continued to send signals that interest rates will remain high. Confidence in Bitcoin remained stable nonetheless and continued to lead the total digital asset space.
Ethereum saw inflows reach $205 million during the same week, its strongest performance in months. Sentiment among Ethereum-focused investors picked up following the effective roll out of the Pectra upgrade, which introduced added capabilities to the Ethereum network.
The addition of co-executive director Tomasz Stańczak also contributed to a more positive attitude among Ethereum investors.
Ethereum inflows rise after Pectra upgrade
US investors supplied $681 million in inflows, making up global participation in digital asset products. German investors supplied $86.3 million and Hong Kong received $24.2 million, its highest since November 2024.
These impressive figures signaled that traditional financial centers have regained their trust in digital assets. Apart from that, other areas reported more conservative attitudes with outflows being recorded in Sweden, Canada, and Brazil.
Sweden recorded $16.3 million in withdrawals, Canada registered $13.5 million, and Brazil recorded outflows amounting to $3.9 million. Such regional variations in flows indicated diverse investor approaches and local market conditions among countries.
Short-Bitcoin funds also drew in $5.8 million, indicating some defensive positioning by traders following recent price rises. Ethereum picked up ground while Solana recorded the sole significant loss among major assets with outflows valued at $0.89 million.
Five consecutive weeks of inflows confirm 2024 is continuing to see evidence of a recovering crypto asset market. Enhanced investor demand for Ethereum and sustained support for Bitcoin demonstrate a movement in international crypto investing trends.
