Crypto Investment Product Inflows Hit Record $9 Billion YTD Aided by $ADA and $SOL

Cryptocurrency investment products saw inflows of $151 million last week, making it the 13th-consecutive week of inflows the market has seen. In total, a record $9 billion have been invested in these products, leading assets under management to a new high above $83 billion.

According to a report published by CoinShares, the flagship cryptocurrency Bitcoin was responsible for the majority of inflows last week, bringing in $98 million that helped push its assets under management to a record $56 billion, aided by ProShares’ Bitcoin Strategy ETF.

After Bitcoin came Ethereum, the second-largest cryptoasset by market capitalization, which brought in $17 million, pushing its total assets past the $21 billion mark for the first time. While these blue-chip cryptoassets were expected to see inflows as prices rise, some altcoins aided the market.

Cardano ($ADA) notably saw inflows totaling $16 million last week, which CoinShares believes are “ likely being due to increasing positive investor sentiment for “World computer” coins.” Solana ($SOL) came next, with inflows totaling $9.8 million.

Next came Polkadot ($DOT) and $XRP, with inflows of $5.2 million and $3.1 million respectively. The firm noted that despite positive flows, the market has been seeing “subdued volumes” average $750 million a day in the second half of the year, compared to $960 million in the first half.

As reported, CryptoCompare’s latest Digital Asset Management Review revealed that cryptocurrency investment products saw their total assets under management increase by 45.5% to get near the $75 billion mark in October, surpassing their previous all-time high of $58.7 billion in March of this year.

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The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

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