While the Bitcoin (BTC) price pulled back somewhat after the massive rise, $270 million inflow was observed into cryptocurrency funds.
In the data shared by Coinshares, it was stated that there was an inflow of $270 million this time to cryptocurrency funds, which had an inflow of $3.12 billion two weeks ago. It was also emphasized that the inflows since the beginning of the year broke a record, reaching $37.3 billion.
Bitcoin experienced its first significant outflow since early September of this year, with $457 million worth of funds being withdrawn from the market. This is thought to be due to profit taking after Bitcoin tested the psychological threshold of $100,000. Ethereum saw an inflow of $634 million, bringing total inflows to $2.2 billion since the beginning of the year, along with a major turnaround in investor sentiment.
CoinShares included the following statements in its report:
Regionally, attention focused on the United States, which recorded inflows of $266 million. Germany and Hong Kong also stood out with notable inflows of $12.3 million and $39 million, respectively. Meanwhile, Switzerland and Canada saw smaller outflows of $26 million and $10 million, respectively.
Ripple (XRP) interest soars
CoinShares shared that Ripple has experienced a serious rise in expectations for a potential XRP ETF and has received investments worth $95 million. The company made the following statements:
A total of $95 million inflows into XRP were recorded, the largest inflow on record. We believe this was due to excitement around a potential US ETF.
Stay tuned