As the leading cryptocurrency Bitcoin approached $38,000 last week, a positive atmosphere continues to prevail in the market.
At this point, while the positive atmosphere continues, CoinShares, which publishes its weekly cryptocurrency report, said that there was an inflow of 292.5 million dollars last week.
“Cryptocurrency investment products experienced a total of $293 million in inflows last week, and this 7-week inflow streak exceeded $1 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 $240 million last week, the largest altcoin Ethereum (ETH) saw an inflow of $49.1 million.
There was an inflow of $7 million in the Bitcoin Short fund, which was indexed to the decline of BTC.
When we look at the altcoins, Solana (SOL) experienced an inflow of $12.4 million, Cardano (ADA) an inflow of $0.8 million, while XRP experienced an outflow of $3.1 million and Litecoin (LTC) $0.3 million.
“Last week, Bitcoin saw a total inflow of 240 million dollars, and since the beginning of the year, inflows have increased to 1.08 billion dollars. Short Bitcoin saw an outflow of 7 million dollars, which is an indication that the positive atmosphere continues.
Ethereum saw its biggest inflow since August 2022 at $49 million, and the last 2 weeks have marked a real turnaround in sentiment, likely linked to the recent spot-based ETF listing demand in the US.
“Solana also saw a total inflow of 12 million dollars.”
When looking at regional fund inflows and outflows, it was seen that Canada ranked first with an inflow of 105.7 million dollars.
After Canada, the USA ranked second with 81.1 million dollars; Germany ranked third with 52.9 million dollars, and Switzerland ranked fourth with 50.3 million dollars.
Against these inflows, only Brazil experienced an outflow of 3.5-6 million dollars.
*This is not investment advice.
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Source: https://en.bitcoinsistemi.com/while-inflows-into-institutional-bitcoin-funds-continue-in-the-seventh-week-this-altcoin-experienced-a-record-entry/