HomeNewsDigital Asset Inflows Soar to $2B, Bitcoin Leads with $1.97B

Digital Asset Inflows Soar to $2B, Bitcoin Leads with $1.97B

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  • Bitcoin dominated inflows with $1.97 billion, highlighting strong investor confidence.
  • Ethereum saw $69 million in inflows, its best week since March, driven by the SEC’s spot-based ETF decision.

The inflows into digital asset investment products last week were substantial, coming to $2 billion. At $4.3 billion in cumulative inflows, this continues a five-week pattern, according to Coinshares.

The week’s $12.8 billion in trade volumes is a 55% increase over the prior week, underscoring the increasing interest in and investment in virtual assets.

digital asset
Source: Coinshares

Bitcoin Dominates Inflows

With strong $1.97 billion in inflows, bitcoin remained the major focus for investors. This significant sum emphasizes how prominent Bitcoin is in the market for virtual assets. The continued interest in Bitcoin investment products by investors demonstrates their strong faith in the top cryptocurrency.

With inflows of $69 million, Ethereum had an impressive week as well. This is the biggest week of Ethereum inflows since March, probably as a result of the SEC’s unannounced approval of spot-based ETFs.

Increased investment has been the outcome of this regulatory action favoring Ethereum in the eyes of investors.

Broad-Based Provider Inflows 

Unusually, almost all providers had inflows, and incumbent providers’ outflows were clearly slowing down.

This wide-ranging interest points to a change in market mood, maybe brought on by US macroeconomic data that has been weaker than anticipated and has changed forecasts for rate reductions in monetary policy.

Total assets under management (AuM) has increased as a result of the good price action as well; it has now surpassed $100 billion for the first time since March of this year.

Regional Focus: US Leads the Inflows 

With $1.98 billion contributed last week, the US topped the inflows regionally. On the first day of the week, there was the third-largest daily inflow on record, indicating strong retail and institutional interest.

digital asset
Source: Coinshares

With $21 billion of AuM, the iShares Bitcoin ETF has clearly outperformed Grayscale, underscoring the changing dynamics in the ETF industry.

Outflows in Short-Bitcoin Products 

Fascinatingly, $5.3 million was outflowed from short-Bitcoin instruments for the third week running. With reference to the future price movement of Bitcoin, this pattern points to a declining pessimistic attitude among investors.

Meanwhile, according to CoinMarketCap, the price of BTC is currently around $69,387.05, up 0.13% over the last 24 hours. It also indicates a bullish structure of 0.65% over the last 7 days.

Altcoins Activity: Fantom and XRP Stand Out 

Even if Ethereum and Bitcoin attracted the greatest attention, other cryptocurrency also experienced movement.

Noteworthy inflows were $1.4 million for Fantom and $1.2 million for XRP, building on previous reports by ETHNews. This little but noteworthy action shows how investors are still interested in a portfolio of varied digital assets.

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Syofri is an active forex and crypto trader who has been diligently writing the latest news related to the digital asset sector for the past six years. He enjoys maintaining a balance between investing, playing music, and observing how the world evolves. Business Email: info@ethnews.com Phone: +49 160 92211628