As Inflows into Institutional Bitcoin Funds Continue, This Altcoin Becomes a Shining Star!

As we enter an important week for Bitcoin and cryptocurrencies, Coinshares has published its weekly cryptocurrency report.

Coinshares stated in its report that there were inflows this week and that there was a total inflow of 78.4 million dollars in the second week.

“While a total of $78 million was seen inflows into cryptocurrency investment products in the second week, the transaction volumes of ETPs increased by 37% to $1.13 billion.”

When looking at crypto funds individually, it was seen that the majority of fund inflows were in Bitcoin.

While BTC experienced an inflow of 42.7 million dollars last week, it was seen that the outflows in the largest altcoin Ethereum (ETH) were replaced by inflows and an inflow of 10.2 million dollars was experienced.

Contrary to the outflow experienced last week, the Bitcoin Short fund, which is indexed to the decline of BTC, experienced an inflow of 1.2 million dollars.

The situation in Solana, which shines with the inflows it experienced throughout the year, did not change this week and SOL experienced an inflow of 23.9 million dollars.

“Solana saw its largest weekly inflow of $24 million since March 2022 and continues to establish itself as the altcoin of choice.”

Looking at regional fund inflows and outflows, Germany ranks first with a fund inflow of 37.3 million dollars, while Switzerland ranks second with an inflow of 31.3 million dollars; Canada ranked third with an entry of 6.2 million dollars, and the USA ranked fourth with an entry of 2.8 million dollars. .

Against these inflows, Brazil received 1.7 million dollars; France experienced an outflow of 0.1 million dollars.

*This is not investment advice.