News Digest:

Digital asset investment funds marked their 10th consecutive week of growth, recording $3.2 billion in inflows last week, according to CoinShares’ latest Digital Asset Fund Flows Weekly Report. Year-to-date inflows have surged to $44.5 billion, over four times higher than any previous annual total.

Exchange-traded products (ETPs) played a significant role, with weekly trading volumes averaging $21 billion, representing 30% of Bitcoin traded on trusted exchanges. Overall, Bitcoin’s average daily trading volume on these exchanges reached $8.3 billion this year—double that of the FTSE 100.

Regional inflows highlighted global enthusiasm for digital assets, with the US contributing $3.1 billion, followed by Switzerland ($36 million), Germany ($33 million), and Brazil ($25 million).

Bitcoin led the charge with $2 billion in inflows, bringing post-US-election inflows to $11.5 billion. Short Bitcoin products also saw inflows of $14.6 million amid recent price gains, though total assets under management (AUM) for these products remained modest at $130 million.

Ethereum recorded its seventh consecutive week of growth, adding $1 billion in inflows last week, with a cumulative $3.7 billion over the past seven weeks. Among altcoins, XRP stood out, attracting $145 million amid optimism for a US-listed ETF, while Polkadot and Litecoin saw inflows of $3.7 million and $2.2 million, respectively.

End Notes

Source: https://www.hedgeweek.com/digital-asset-funds-mark-10th-week-of-consecutive-growth/#:~:text=Digital%20asset%20investment%20products%20recorded,Flows%20Weekly%20Report%20from%20CoinShares