Institutional Investors Break Record Again! They Purchased Huge Amounts of Bitcoin and These Four Altcoins!
The post Institutional Investors Break Record Again! They Purchased Huge Amounts of Bitcoin and These Four Altcoins! appeared on BitcoinEthereumNews.com.
Following the correction experienced in Bitcoin and altcoins over the weekend, the increases continue with inflows into cryptocurrency investment products. At this point, CoinShares released its weekly cryptocurrency report and said that there was an inflow of $3.13 billion last week. “Cryptocurrency investment products saw record weekly inflows of $3.13 billion, bringing total inflows to $15.2 billion since mid-September, when interest rates were first cut in the U.S. Year-to-date inflows have reached a record $37 billion, far surpassing the launch of US Gold ETFs, which attracted just $309 million in their first year.” Positive Trend Continues in Bitcoin and Altcoins! When looking at crypto funds individually, it was seen that the fund inflows were in Bitcoin. While BTC saw an inflow of $3.07 billion, Ethereum (ETH) saw an inflow of $2.8 million. Inflows continued in the Bitcoin Short fund, which was indexed to the fall of BTC, and an inflow of $10.4 million was experienced. When we look at other altcoins, XRP experienced an inflow of $15.2 million, Solana (SOL) $16.2 million, Litecoin (LTC) $4.1 million, and Chainlink (LINK) $1.3 million. “Bitcoin saw $3 billion inflows, but the price reaching new highs also led to an additional $10 million inflows into the short Bitcoin fund, with the $58 million monthly inflow marking the largest inflow record since August 2022. Solana outpaced Ethereum with $16 million in inflows against $2.8 million last week. Altcoins XRP, Litecoin, and Chainlink also saw inflows of $15 million, $4.1 million, and $1.3 million, respectively.” When looking at regional fund inflows and outflows, it was seen that the USA ranked first with an inflow of 3.2 billion dollars. Canada came in second after the United States with $30.9 million, and Hong Kong came in third with $29.9 million. Against these inflows, Sweden experienced an outflow of…
Filed under: News - @ November 25, 2024 1:22 pm