Based on data shared by Coinshare, Cryptocurrency-related investment products at asset managers such as Bitwise, Grayscale, BlackRock, and 21Shares touched a historical record trading volume of 17.5 billion Dollars last week, which is believed to be due to the start of trading of the Spot Bitcoin ETF in the United States. “This trading volume represented nearly 90% of daily trading volume on major exchanges last Friday, unusually high since the average is usually only between 2%-10%,” wrote CoinShares Head of Research, James Butterfill. Butterfill also added that this investment product also generated Inflow worth 1.18 billion dollars last week. Products related to Bitcoin alone recorded 1.16 billion dollars or 98% of Inflow. Ethereum-based products received inflows worth 25.7 million dollars and XRP received 2.2 million dollars. Meanwhile, Solana investment products only generated inflows of 0.5 million dollars. Increasing inflow or inflow of funds is a positive indication, which usually occurs due to increased interest in these assets.
BTC Dominance Guys, I'll update the new Alts later. BTW, I want to share first about my views on BTC Dominance. We know that BTC Dominance is important so that we can anticipate financial flows moving to BTC, right? Or are you parking at USDT? Or maybe in Alts?? Well, the fact is that currently BTC dominance is consolidating, after yesterday the BTC ETF Spot was approved, interestingly the market is actually leaving BTC. Maybe this was due to their disappointment as a result of the BTC price not increasing significantly. So weak hands tend to Sell their BTC and move to Alts. Well, apart from that speculation, BTC Dominance is currently flat. The direction is not clear whether to take it up or down. If we refer to the downward momentum, there should be a chance for BTC Dominance to fall again, but let's just guess. It's best to set an alarm above Resistance and below Support, whichever is beaten, that's the signal for our next reaction. COPYTRADE