๐ RECORD $17.8 BILLION YTD IN DIGITAL ASSET INFLOWS ๐
๐ Bitcoin and Ethereum Drive Record Inflows ๐
The digital asset market is experiencing unprecedented investor interest, with inflows reaching a record-breaking $17.8 billion year-to-date. This surge has surpassed the previous high of $10.6 billion in 2021, signaling a robust growth trajectory for cryptocurrencies.
๐ Bitcoinโs Remarkable Inflows ๐
Bitcoin, the leading cryptocurrency, witnessed its fifth-largest weekly inflow on record last week, totaling a staggering $1.5 billion. This influx reflects a significant shift in market sentiment, with investors capitalizing on Bitcoin's recent price dip. Conversely, short-Bitcoin products saw their largest weekly outflow since April 2024, amounting to $8.6 million.
James Butterfill, head of research at CoinShares, attributed this trend to market conditions:
โWe believe price weakness due to the German Government Bitcoin sales and a turnaround in sentiment due to lower-than-expected CPI in the US prompted investors to add to positions.โ
๐ท Ethereumโs Anticipated ETF Launch Fuels Inflows ๐ท
Ethereum-related investment products also attracted considerable attention, recording $72 million in inflows last week. This marks Ethereum's largest inflow since March, bringing its year-to-date total to $57 million. The anticipation of Ethereum's spot exchange-traded funds (ETF) launch has significantly boosted investor confidence.
๐ Broad-Based Crypto Inflows ๐
Large-cap alternative digital currencies, including Solana, Chainlink, Avalanche, and XRP, collectively saw more than $8 million in inflows. This broad interest underscores the growing diversification within the digital asset market.
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