China’s crypto ban seen as buying opportunity for investors with $95M inflows into digital assets
Last week, inflows of $95 million were seen in digital assets like Bitcoin, Ethereum, Binance, Solana, and others, bringing the total inflows in the previous six weeks to $320 million. According to digital asset management firm CoinShares’ weekly report on digital asset fund flows, recent headwinds for digital assets, such as China’s ban on cryptocurrencies, were perceived as purchasing opportunities by investors.
As a result, “Bitcoin witnessed the greatest inflows of any investment product, totaling $50 million, despite suffering from poor investor sentiment over the prior two quarters,” according to the research. Last week, Ethereum was the second most popular cryptocurrency, with inflows totaling $29 million. “As the quantity committed in Eth2.0 grows, sentiment for Ethereum has stayed relatively buoyant.
According to our estimations, 6.6 percent of Ethereum is staked in Eth2.0, with betting growth critical for investor confidence. Investors perceive Eth2.0 as a possible environmentally friendly alternative to existing proof-of-stake digital assets.
Solana, an Etherum competitor, was the most popular digital asset among investors worldwide the week before. The cryptocurrency drew $49.4 million, accounting for 86.4 percent of overall inflows of $57.2 million into various digital support for the week. CoinShares’ weekly report summarizes Bitcoin, Ether, and other digital asset investment inflows and outflows in major ETPs, mutual funds, and OTC trusts.