According to a report by CoinShares Research, crypto money focused investment products saw inflows of $1.44 billion last week. This was the fifth largest weekly inflow, bringing total inflows since the beginning of the year to $17.8 billion. Geographically, major inflows were recorded in the US, Switzerland, Hong Kong and Canada. Bitcoin and Ethereum also attracted significant investment.
There Has Been a Huge Increase in Cryptocurrency-Based Investments
The latest report from CoinShares Research highlights significant movements in crypto-based investment products, with $1.44 billion inflows recorded last week despite price declines driven by strategic buying. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
The United States leads the way with a total weekly inflow of $1.3 billion. Switzerland, Hong Kong and Canada have also attracted investors with significant inflows. Switzerland has set a record for annual inflows. Hong Kong and Canada, which took in $58 million and $55 million, respectively.
Performance of Bitcoin and Ethereum
Bitcoin saw its fifth-largest weekly inflow in history, with an inflow of $1.35 billion. Short positions in Bitcoin drew attention with an outflow of $8.6 million. Analysts see the reasons for these dynamics as changes in investor sentiment following the German government’s sell-off and the US CPI data.
Ethereum also saw its highest weekly inflow since March, with $72 million in inflows. The surge is attributed to expectations that a spot-based ETF will soon be approved in the United States. Solana said Avalanche and altcoins like Chainlink have also attracted investor attention, receiving inflows of $4.4 million, $2 million, and $1.3 million respectively.
Despite the market fluctuations, the bullish trend among investors continues. The durability of entries amid price corrections indicates the increasing confidence and strategic positioning of both institutional and individual investors. Accordingly, it is expected that the positive atmosphere will continue this week. Because BTC, the flagship of cryptocurrencies, started the week with a significant increase. At the time of writing, the Bitcoin price was trading at $62.87.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
