SOLANA OUTPERFORMS ETHEREUM, AVALANCHE WITH $13M INFLOWS 

Last week, Bitcoin continued to dominate the digital asset investment landscape, attracting inflows totaling $703 million, which accounted for a staggering 99% of all inflows in the sector.

Investment products for digital assets as a whole received significant interest, with total inflows reaching $708 million for the week. This boosted year-to-date inflows to $1.6 billion, pushing the total global assets under management in the digital asset space to $53 billion.

While trading volumes in Exchange-Traded Products (ETPs) dropped slightly to $8.2 billion compared to the previous week’s $10.6 billion, they still surpassed the 2023 weekly average of $1.5 billion. These volumes represented 29% of Bitcoin’s overall trading activity on trusted exchanges, according to the latest report from CoinShares.

Solana Shines Amid Market Rebound

After a period of subdued performance, investment products focused on Solana showed renewed strength, particularly as the broader market experienced a rebound. Solana saw inflows of over $13 million last week, outperforming Ethereum and Avalanche, which recorded outflows of $6.4 million and $1.3 million, respectively, during the same period. Other altcoins such as Cardano, Litecoin, and XRP also saw minor inflows of $0.6 million, $0.3 million, and $0.1 million, respectively.

Bitcoin Remains in the Spotlight

Despite the strength in other digital assets, Bitcoin continued to be the primary attraction for investors. The report revealed that Bitcoin garnered inflows of $703 million last week, making up an overwhelming 99% of all inflows into digital asset investment products.

On the flip side, short positions in Bitcoin saw slight outflows of $5.3 million, aligning with a reversal of the previous negative price momentum.

US Investment Scene Thrives

In the United States, the digital asset investment scene remained vibrant, with inflows reaching $721 million last week. This was partly driven by newly issued ETFs, which attracted $1.7 billion in inflows. These ETFs, introduced on January 11th, have maintained an average of $1.9 billion in weekly inflows over the past four weeks, accumulating total inflows of $7.7 billion.

However, this surge was offset by outflows from established issuers, totaling $6 billion. Nevertheless, recent data suggests a significant slowdown in the pace of these outflows.

Regionally, Switzerland, Germany, and Brazil recorded weekly inflows of $20.9 million, $3.5 million, and $1.3 million, respectively, followed by Australia and France with $0.9 million and $0.1 million in inflows. In contrast, Canada and Sweden experienced outflows of $31.3 million and $8.2 million, respectively, during the same period.

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