In fact, according to CoinShares, a digital asset investment firm, digital asset investment products reported inflows for the tenth straight week. These cumulative inflows just topped an impressive $1.24 billion. Bitcoin and Ethereum continue to drive the charge as we head into another week of inflows. The year-to-date inflows of $15.1 billion have surged to a new record high.
Bitcoin led the inflows with $1.1 billion. ETH products had their ninth straight week of inflows.
Digital asset investment products recorded their 10th consecutive week of inflows, totaling US$1.24bn last week and pushing year-to-date (YTD) inflows to a new high of US$15.1bn." - CoinShares
Germany and Canada were big drivers of the inflows. Germany kicked in $10.9 million, and Canada followed with an additional $20.9 million. Hong Kong and Switzerland experienced close to $40 million in combined outflows. Short-Bitcoin products saw small outflows of $1.4 million.
"Despite the recent price correction, indicating that investors were buying on weakness. This sentiment was further supported by minor outflows from short-Bitcoin products, which totaled US$1.4m." - CoinShares
Per CoinShares, the spike in activity started to slow down in the second half of the week. The US Juneteenth holiday and developing stories about US involvement in the Iran conflict probably figured into this slowdown.
“However, the surge in activity earlier in the week tapered off in the latter half, likely due to the US Juneteenth holiday and emerging reports of US involvement in the Iran conflict.” - ["The Daily Hodl" - CoinShares]
