According the latest Coinshares research the digital asset market has continued to attract substantial investment, with products in this category receiving $261 million in the past week.
This influx continues a six-week streak, pushing the total to $767 million, thereby overtaking the annual inflows from the previous year, which were recorded at $736 million. This trend is now on par with the inflow surge from July 2023 and is the most pronounced since the end of the 2021 bull market.
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Investment Trends Across Regions and Asset Classes
The United States has become a focal point for these inflows, contributing an impressive $157 million. European regions and Canada are also participating robustly in this inflow trend, with Germany at $63 million, Switzerland at $36 million, and Canada at $9 million.
The recipient of these inflows has been Bitcoin, with a total of $229 million in recent weeks, increasing the year-to-date inflows to $842 million. The prospect of a spot-based ETF in the United States and a critical analysis of the less favorable macroeconomic data have been instrumental in boosting Bitcoin’s desirability. In a contrasting sentiment, there has been an inflow of $4.5 million into short-Bitcoin positions, reflecting a perspective that the recent price rise may be short-lived.
Ethereum has also witnessed a resurgence of inflows, totaling $17.5 million, the highest since August 2022 and a reversal from its earlier outflows of $107 million.
Furthermore, there has been a noticeable inflow into other alternative coins, with Solana attracting $11 million and Chainlink $2 million, which represents 17% of its total assets under management. Smaller yet significant inflows were seen in Polygon and Cardano, with $0.8 million and $0.5 million, respectively, underscoring the growing investor interest across various digital asset classes.