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Bitcoin

Bitcoin has continued its bullish streak as digital asset management product inflows hit $114 million last week. The broader asset class has recorded a 4-week run of inflows now amounting to $345 million, according to the latest data shared by CoinShares report.
In the process, the market has fully corrected the previous 6-week run of outflows that totaled $408 million.
<h2 id="bitcoin-in-the-frontline">Bitcoin in the Frontline</h2>
The sole focus of investors was on Bitcoin, as evidenced by its inflows of $104 million. The improved sentiment was accompanied by low market volume. CoinShares cited &#8220;a flight to safety&#8221; by investors fearful of the current state of traditional finance.
However, opinions remain divided as short bitcoin also witnessed significant inflows of $14.6 million last week, the <a href="https://blog.coinshares.com/volume-127-digital-asset-fund-flows-weekly-report-cc03576c08ac" target="_blank" rel="noopener" data-wpel-link="external">report</a> argued.
Altcoins, on the other hand, showed little activity despite the successful launch of Ethereum&#8217;s Shapella upgrade. Ether inflows were constricted to just $0.3 million last week. A similar trend was seen across Litecoin, which recorded inflows of $0.2 million. During the same period, ADA and XRP saw inflows of $0.1 million each.
Solana and Polygon&#8217;s weekly outflows, on the other hand, reached $2.1 million each.
Meanwhile, inflows for blockchain equities have soared to levels not seen after the fateful collapse of Sam Bankman-Fried-led FTX. The latest data noted inflows of $5.8m last week, owing to the recent price appreciation that managed to catapult total assets under management close to $2 billion &#8211; the highest since October 2022.
<h2 id="us-regulatory-atmosphere">US Regulatory Atmosphere</h2>
The United States agencies have increased scrutiny of the asset class. The Securities and Exchange Commission (SEC), as well as the Treasury, have explicitly <a href="https://cryptopotato.com/can-zk-proofs-untange-the-defi-compliance-labyrinthine-experts-weigh-in/" target="_blank" rel="noopener" data-wpel-link="internal">targeted</a> decentralized finance (DeFi). Despite this, inflows for digital asset investment products were seen across most geographies. However, the US dominated the chart with $58 million in the past week.
Trailing behind is Germany with inflows of $35.4 million, followed by Canada with $17.2 million, and Switzerland with $6.6 million.
Meanwhile, ProShares has emerged with the most significant inflow of $57.3 million. Trailing behind is CoinShares Physical with $11.3 million, followed by 3iQ with $10.4 million.
The post <a href="https://cryptopotato.com/bitcoin-remains-the-sole-focus-for-investors-with-104m-%d0%b2%d0%b5%d0%b5%d0%ba%d0%bb%d1%8a-inflows-report/" rel="nofollow">Bitcoin Remains the Sole Focus for Investors With $104M Weekly Inflows: Report</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.

Bitcoin Remains the Sole Focus for Investors With $104M Weekly Inflows: Report

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