Ethereum, the world’s second-largest cryptocurrency, has seen significant investment inflows from the financial market, with a total of $2.2 billion this year. This is a record high, surpassing the 2021 funding by $2 billion.

Ethereum’s Market Performance

According to recent reports, Ethereum has gained considerable market attention with its substantial funding. This is not surprising, given its status as one of the most prominent cryptocurrencies in the world, alongside Bitcoin. Bitcoin, in particular, has seen inflows of $34 billion, despite experiencing outflows of $457 million in recent weeks, which is believed to be profit-taking following the cryptocurrency testing the $100,000 price mark.

“Bitcoin saw outflows of US$457m, the first significant outflows since early September this year in what we believe is profit taking following bitcoin testing the very psychological level of US$100k,”

Other Notable Cryptocurrencies

Multi-asset crypto and Solana (SOL) have also seen notable inflows, with $441 million and $110 million, respectively. However, both cryptocurrencies have experienced outflows this week, with multi-crypto seeing an outflow of $25.3 million and Solana recording an outflow of $20 million. Ripple’s XRP, on the other hand, has seen massive inflows, with $95 million this week and $141 million year-to-date (YTD), largely due to the hype surrounding the proposed XRP ETF.

Top Investment Products

iShares products by BlackRock have led the inflows, with the iShares Bitcoin Trust ETF (IBIT) and iShares Ethereum Trust ETF (ETHA) recording $405 million and $300 million of inflow this week, respectively. Other top investment products include the Bitwise Ethereum Strategy ETF (AETH) and Fidelity Ethereum Fund (FETH), which have seen inflows of $134 million and $140 million this week.

Regional Investment Trends

The United States, Germany, and Hong Kong have seen significant inflows this week, while Switzerland, Sweden, and Canada have experienced minor outflows totaling $52 million.

These investment trends highlight the growing interest in cryptocurrencies and blockchain technology among investors. As the market continues to evolve, it’s essential to stay informed about the latest developments and trends in the world of crypto investing.

For more news and updates on the world of cryptocurrency, visit Global Crypto News.

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