Outside Source
- Digital assets saw a new weekly record as inflows hit $2.9 billion last week.
- Bitcoin recorded inflows of $2.86 billion, while Ethereum, Solana and Polygong saw minor outflows.
- CoinShares shared the details in its Digital Asset Fund Flows report published on Monday, March 18.
The crypto investment space saw a record $2.9 billion in inflows last week, digital assets manager CoinShares says.
Per the report, the figure beat the previous week’s $2.7 billion, with this a seventh consecutive week that crypto investment products are seeing inflows.
“This week’s inflows have pushed year-to-date inflows to US$13.2bn, smashing the full 2021 inflows of US$10.6bn,” CoinShare’s global head of research James Butterfill noted in the Digital Asset Fund Flows report published on Monday, March 18.
Bitcoin saw inflows of $2.86 billion
In a week where Bitcoin price shot to a new all-time high above $73k before flipping negative to test lows of $65k, crypto ETPs shone.
Bitcoin saw inflows of $2.86 billion during the week to push its market share to 97% year-to-date.
Meanwhile, smart contracts platforms Ethereum, Solana and Polygon recorded outflows of $14 million, $2.7 million and $6.8 million respectively.
According to CoinShares, an aggregate of all crypto investment products, the global trading volume for digital assets reached $43 billion last week. This was also the volume for the previous week, and was 47% more than the global trading volume for Bitcoin (BTC).
Notably, global ETPs surpassed $100 billion for the first time last week. However, the dip witnessed as Bitcoin led the price correction saw the market close at $97 billion.
BTC price has traded back to $68k and sentiment remains bullish going into the Bitcoin halving. Altcoins are also expected to explore new highs in coming months and this could play into further inflows.
This article first appeared at CoinJournal: Latest Crypto News, Alt Coin News and Cryptocurrency Comparison
