While the Bitcoin (BTC) price faced selling pressure after reaching $65,000, an inflow of $1.44 billion was recorded in institutional cryptocurrency funds.
According to data announced by Coinshares, this time there was an inflow of $1.44 billion into institutional cryptocurrency funds, which saw an inflow of $441 million two weeks ago.
Following the approval of the Spot Bitcoin ETF, institutional interest in Bitcoin had increased significantly. Although there was an outflow in Grayscale funds last week, institutional investors seem to consider the falling prices as an opportunity. It is observed that there is also high interest in other ETF issuers other than Grayscale.
Ethereum, which experienced its biggest rise in 2 years two weeks ago, received intense demand from investors this week, just before the launch of the spot ETF. While Bitcoin was the leader in investments with 1.34 billion dollars, there was an inflow of 72.1 million dollars into Ethereum.
Altcoin Purchases Continue
Institutional investors showed interest in other altcoins besides Ethereum last week. In this context, Solana, which saw an inflow of $4.4 million last week, drew attention. Demand has increased for assets such as Solana (SOL), Cardano (ADA), Avalanche (AVAX), Chainlink (LINK), Ripple (XRP) and Litecoin (LTC).
$4.4 million was invested in Solana, $700 thousand in Cardano, $2 million in Avalanche, $1 million in Ripple, $1.3 million in Chainlink and $1.2 million in Litecoin. .
According to the Coinshares report, the country with the most inflows was US investors, while the country with the most outflows was German investors. The majority of these movements consist of incoming and outgoing amounts from spot Bitcoin ETF issuers.
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