CoinShares, a leading cryptocurrency investment firm, has released its weekly cryptocurrency report, revealing that there was a modest inflow of $48 million in cryptocurrency investment products last week. However, large outflows occurred later in the week due to stronger-than-expected macro data.
Bitcoin saw a total inflow of $214 million, making it the best-performing asset with $799 million in inflows since the beginning of the year. Surprisingly, altcoins also saw inflows despite poor price performance. Ethereum, on the other hand, suffered the most with outflows of $256 million. Solana, however, attracted $15 million in inflows.
Among other altcoins, XRP saw significant inflows of $41 million, while Aave, Stellar, and Polkadot attracted inflows of $2.9 million, $2.7 million, and $1.6 million respectively.
In terms of regional fund inflows and outflows, the United States ranked first with an inflow of $79 million, followed by Germany with $52.4 million. On the other hand, Switzerland had an outflow of $85.3 million, followed by Hong Kong with $36.6 million and Sweden with $33.2 million.
It is important to note that this information is not investment advice.