Bullish Return: Institutional Investors Deposit $1.44 Billion In Crypto Week
Crypto investment products saw another week of inflows to build on the previous week. According to CoinShares, digital asset investment products had $1.44 billion inflows last week, indicating a revival of positive momentum in the crypto business. This raises the two-week inflow to $1.881 billion following three weeks of outflows. With last week's data, crypto investment fund inflows this year are at a record $17.8 billion.
Institutional Crypto Investors Gain
Crypto investment products are reflecting market mood, according to recent research. According to CoinShares' latest weekly report, this positive mentality has helped digital investment goods exceed the $10.6 billion bull market inflow from 2021.
The 5th highest weekly inflow on record was $1.44 billion last week. Naturally, Bitcoin attracted the most investment. Bitcoin, the first and biggest crypto asset, has always been the center of attention. Since Spot Bitcoin ETFs launched, the cryptocurrency has been in the limelight for months. Bitcoin received $1.35 billion last week, its fifth-largest weekly inflow ever, due to positive momentum. The German State of Saxony's selloff of over 45,000 BTC raised worries about selling pressure.
In contrast, short-Bitcoin products lost $8.6 million. Short Bitcoin goods are for investors expecting a price drop. The removal of short positions indicates a decreasing pessimistic stance among institutional investors.
Ethereum dominated the altcoin market with $72 million in net inflow, reversing its year-to-date net inflow from a negative $15 million to $57 million. Solana exchange-traded products followed with $4.4 million net inflow, down 270% from $16.3 million the week before. At press time, Solana had received $62 million this year.
Litecoin, XRP and Cardano had $1.2 million, $1.0 million, and $1.2 million inflows. Investment products with several assets also received $17.2 million.
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