GET 10% OFF ON YOUR FIRST ORDER. FOR A LIMITED TIME ONLY. Use code: WELCOME on checkout

Bitcoin ETPs Lead Inflows with $1.01B Weekly, What About Ethereum? (CoinShares)

For the third consecutive week, digital asset investment products attracted impressive inflows, as this time, they totaled $1.05 billion. The latest figures contributed to a record-breaking year-to-date cumulative flow of $14.9 billion.

According to the latest edition of CoinShares’ Digital Asset Fund Flows Weekly Report, the recent surge in prices has driven total digital asset exchange-traded products (ETPs) to $98.5 billion. Meanwhile, weekly ETP trading volumes have increased by 28% to $13.6 billion.

  • The majority of inflows were directed towards Bitcoin ETPs, which attracted $1.01 billion, while short-BTC products experienced outflows totaling $4.3 million, indicating a broadly positive sentiment despite recent price hikes.
  • This shift in sentiment is likely influenced by investors interpreting the FOMC minutes and recent macro data as mildly dovish.
  • Investment products offering exposure to Ethereum witnessed inflows of $36 million, marking the highest since March. As per the asset manager, this figure was largely driven by early reactions to the approval of spot Ether ETFs in the United States.
  • The bullish sentiment extended across the altcoins board, with Solana attracting $8 million in inflows last week.
  • Litecoin also witnessed inflows of $2.8 million during the same period, followed by Chainlink and XRP with $0.6 million and $0.4 million.
  • On the other hand, Cardano observed weekly outflows of $1.2 million.
  • In terms of geographical distribution, the majority of inflows were concentrated in the United States, which experienced $1.03 billion in inflows over the past week. Notably, Grayscale witnessed a significant reduction in outflows to just $15 million for the week.
  • Germany and Switzerland also saw inflows of $48 million and $30 million, respectively.
  • However, despite the initial enthusiasm surrounding the launch of spot Bitcoin ETFs in Hong Kong, there were disappointing outflows of $29 million last week.

The post Bitcoin ETPs Lead Inflows with $1.01B Weekly, What About Ethereum? (CoinShares) appeared first on CryptoPotato.

Latest Press

post-thumbnail
News
6 hours ago
Bitcoin Price Stalls at $64,807 as Cash-and-Carry Strategy Dominates Market
Bitcoin’s price has been range-bound, influenced by the cash-and-carry arbitrage strategy. Institu...
READ MORE
post-thumbnail
News
6 hours ago
Ripple Faces Legal Limbo as SEC’s Top Crypto Enforcer Resigns
David Hirsch, SEC’s head of crypto enforcement, resigns after nearly a decade. His departure marks...
READ MORE
default post thumbnail
News
6 hours ago
Curve (CRV) Bounces 40% From All-Time Low As Whales Go On Shopping Spree
Curve Finance’s native token, CRV, saw a dramatic 30% price drop a week ago. The crash, which incl...
READ MORE
default post thumbnail
News
6 hours ago
Bitcoin Market Alert: German Government Agency Sends $425M Worth Of BTC To Exchanges
Bitcoin (BTC) recently plunged to a one-month low of $64,000, causing concern among bullish investor...
READ MORE
default post thumbnail
News
6 hours ago
Solana Down 40% But Analyst Says Now’s The Time To Buy SOL
Solana, one of the top altcoins, trailing Ethereum and the BNB Chain, has not been spared in the rec...
READ MORE
default post thumbnail
News
6 hours ago
Dogecoin Weighted Sentiment Drops To 2024 Lows, What Does This Mean For Price?
The crypto industry is now going through another turbulent period, as evidenced by price data in the...
READ MORE
default post thumbnail
News
6 hours ago
Dogecoin, Cardano “Very Bullish” Based On MVRV: Santiment
The on-chain analytics firm Santiment has revealed that Dogecoin and Cardano are two assets that loo...
READ MORE
default post thumbnail
News
6 hours ago
CertiK Faces Fallout After Confessing $3 Million Heist From Kraken, What’s Next?
Cryptocurrency exchange Kraken has announced that it has fallen victim to a major security flaw that...
READ MORE
default post thumbnail
News
6 hours ago
SynFutures to Expand its Perp Markets to Base with New Memecoin Initiative
Singapore, Singapore, June 19th, 2024, Chainwire SynFutures, the leading DeFi derivatives protocol, ...
READ MORE
default post thumbnail
News
6 hours ago
Brett Price Prediction And A New Base Meme Coin To Watch
The broad-based recovery in altcoins today is once again showing the upside potential of Base meme c...
READ MORE

Publish an article now

Unlock the power of media for instant visibility to the target audience, major SEO boost, greater website traffic and conversion rates.

click here to get started