Crypto inflows hit $2b last week, pushing 5-week total to $4.3b
Share link:In this post: Crypto investment products saw a $2 billion inflow last week; the five-week total reached $4.3 billion. Bitcoin dominated with $1.97 billion in inflows, while Ethereum had its best week since March with $69 million. Market sentiment is positive, with expectations of interest rate cuts as Bitcoin shows resilience and potential for new all-time highs.Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the
Last week, cryptocurrency investment products raked in an impressive figure at $2 billion. This brings the total inflows over the last five weeks to an impressive $4.3 billion. Bitcoin led the pack with inflows of $1.97 billion.
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Ethereum was next in line, seeing its largest inflow week since March with a total of $69 million. CoinShares reported that trading volumes in Exchange-Traded Products (ETPs) surged to $12.8 billion for the week, marking a 55% increase from the previous week.
Bitcoin steals the show
Almost all spot ETF providers observed net inflows, with a noticeable outflow slowdown from incumbents. This change in sentiment is believed to be a direct response to weaker-than-expected macroeconomic data in the US, which has accelerated expectations for interest rate cuts.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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