June 13, 2024

Crypto investment products get $1.18b inflows amid spot Bitcoin ETF launch

The influx of investment products into digital assets amounted to $1.18 billion.

Despite the launch of the Bitcoin ETF, capital inflows of $1.18 billion did not break the October 2021 record of $1.5 billion, according to a CoinShares report.

At the same time, trading volumes have broken records, with trading volume of $17.5 billion last week, the highest ever, compared with an average of $2 billion per week in 2022. These trading volumes accounted for almost 90% of the daily trading volumes on trusted exchanges on January 12.

Geographically, experts added that in the United States last week there was an inflow of funds in the amount of $1.24 billion. Countries such as Germany, Canada and Sweden recorded an outflow. Analysts believe that this distribution of funds occurred due to the desire of traders to switch from Europe to the United States.

Bitcoin (BTC) inflows were $1.16 billion, Ethereum (ETH) inflows were $26 million, and XRP inflows were $2.2 million. Solana (SOL) was a notable exception, receiving just $0.5 million in inflows last week.

“Blockchain equities also saw large inflows totaling $98m, bringing total inflows over the last seven weeks to $608m.”

CoinShares report

In the period from Jan. 1 to Jan. 5, the inflow of funds into crypto funds amounted to $151 million. Analysts also emphasized that the total inflow of funds since the trial between Grayscale and the SEC reached $2.3 billion.

Follow Us on Google News

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent. View more