Record Entry in Institutional Bitcoin and Altcoin Funds After 2021! Investors Attacked This Altcoin!

While Bitcoin, the leading cryptocurrency, has fallen back to the $ 37,000 limit after its rise, inflows to cryptocurrency investment products continue.

At this point, CoinShares, which publishes its weekly cryptocurrency report, said that there was an inflow of $ 346.3 million last week.

“Cryptocurrency investment products saw inflows totaling $346 million last week, the largest weekly inflow for 9 consecutive weeks.

“Spurred by the prospect of a spot-based ETF launch in the US, this increase was the largest inflow since the bull market at the end of 2021.”

When looking at crypto funds individually, it was seen that the majority of fund inflows were in Bitcoin.

While BTC experienced an inflow of $312 million last week, inflows in the largest altcoin Ethereum (ETH) continued this week and saw an inflow of $33.5 million.

It was observed that there was an outflow of $0.9 million in the Bitcoin Short fund, which was indexed to the decline of BTC.

When we look at the altcoins, Solana (SOL) continued to inflow with 3.5 million dollars, Cardano (ADA) with 0.6 million dollars, XRP with 0.2 million dollars, while Litecoin (LTC) experienced an outflow of 0.6 million dollars.

“Bitcoin saw a total of $312 million in inflows last week, and year-to-date inflows have increased to just over $1.5 billion.

Ethereum saw inflows of $34 million last week, pushing the 4-week inflow to $103 million, nearly correcting this year’s outflow, marking a decisive turn in sentiment.”

When looking at regional fund inflows and outflows, it was seen that Canada ranked first with an inflow of 199.1 million dollars.

After Canada, Germany ranked second with 101.5 million dollars; The USA ranked third with 30.2 million dollars.

*This is not investment advice.