Crypto investment products saw inflows for the second consecutive week, totaling $78 million, the highest volume levels since July 2023, according to a report by CoinShares.
For the second week, crypto investment products saw $78m of inflows. CoinShares recorded a 37% rise in crypto exchange-traded products (ETPs) volumes, at $1.1 billion.
Bitcoin products received the majority of the investments, amounting to $44.2 million and the trading volume of BTC crypto exchanges shot up by 16%.
In altcoins solana chains native token SOL is favoured by investors even more than ETH or ADA as it has the inflows of $24 M which is also its highest in a week since march 2022.
CoinShares says the investments are coming mainly from Europe as it oversaw inflows of $71 million which is 90% of all inflows.
On the other hand only $9 million were invested in United States Ethereum futures exchange-traded funds (ETFs) during their first week of trading, commencing on October 2, suggesting little demand there.
The top two countries that contributed towards increasing inflows included Germany and Switzerland, by $37.3 million and $31.3 million respectively. Just two of these countries contributed to this with 88% of all crypto asset product inflows recorded last week.
In addition, they are expanding their business to the U.S. in line with their belief that the U.S. is a leader in developing and regulating digital assets. They expect to introduce the first coinshares offering in September 2023.