Crypto Investment Products See Biggest Earnings Since July – CoinShares
Digital asset investment products continued to gain significantly last week, reaching their highest volume since July 2023, according to a new report.
Crypto investment products saw inflows for the second consecutive week, totaling $78 million, crypto asset management company CoinShares reported in its weekly analysis report on October 9.
According to CoinShares, the volume of crypto exchange-traded products (ETPs) rose by 37% last week, reaching $1.1 billion. Bitcoin (BTC) volumes have increased by 16% on trusted exchanges, the report said.
Solana (SOL) – the eighth largest cryptocurrency by market capitalization – continues to prove itself as the “altcoin of choice” with its weekly earnings reaching the highest level since March 2022. In the last 30 days, however, it has still decreased by about 32% over the past year, according to data from CoinGecko.
Despite the strong overall growth in crypto product flows, some major crypto investment products have seen more muted activity. United States Ethereum futures exchange-traded funds (ETFs) – which attracted only about $ 10 million in the first week of trading on October 2, highlighting the “sweet appetite”, said CoinShares.
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In addition to the asset-wise analysis, CoinShares also reported that 90% of all crypto asset flows came from Europe, while the US and Canada saw only $9 million in combined inflows.
According to the data, Germany and Switzerland contributed to the increase in revenue by posting revenue of USD 37.3 million and USD 31.3 million respectively. Together, the two countries accounted for 88% of all crypto asset imports last week.
The news comes as CoinShares works to expand its operations in the US, introducing initial offerings in the country in September 2023.
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