This is a weekly report on the flow of cryptocurrency funds fixed by the institution #CoinShares

The data focuses on fund flow statistics in markets such as cryptocurrency ETFs, ETPs, mutual funds and trusted over-the-counter transactions.

Because those who use such products are usually not people in the currency circle but traditional investors or investment institutions. They are mainly used to evaluate how much external funds have entered the currency circle. Some of these products are only open to qualified investors. Qualified investors are usually institutions or professional investors, not ordinary small retail investors, so some people will use this data to judge the entry status of institutions.​

In short, it is a weekly fund flow report that can be used to judge the status of "foreign currency qualified investors entering cryptocurrency".

Adding up the weekly reports for the past seven weeks, there have been a cumulative net inflow of $5.5 billion in the past seven weeks since the ETF was passed in January, almost all of which went into Bitcoin.

Generally speaking, the capital transmission in the currency circle will be like this: external funds enter the market and flow into Bitcoin, so Bitcoin will rise first. Of course, during the process, some original Bitcoin holders sold their coins to external funds. After they got the money, they couldn't sit still. They would look for the next investment target. Then they would look at the narrative at the time. If there is a narrative, buy the narrative. For example, AI, Depin, or BNB Launchpad, there is no narrative to buy blue chips, such as ETH, DeFi old leader, so the second wave will be high-quality projects or potential projects taking over the rise.

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This is just a rough idea. In fact, there are medium cycles within large cycles, and small cycles within medium cycles, which will also be bombarded with various new news. But in short, the core remains unchanged is that new external funds must flow into the currency circle. It may lead to the overall big bull in the currency circle.

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Is accumulating US$5.5 billion enough? Of course not enough ~

In the future, we must continue to observe the flow of funds. The gold-absorbing trend of Bitcoin ETF must be sustainable and cannot just be popular for a few weeks.