The post Bitcoin investment inflows hit $1B as long-term holders accumulate appeared on BitcoinEthereumNews.com.

Inflows to crypto Bitcoin funds top $1 billion as BTC price remains stuck in a range below all-time highs. Inflows into Bitcoin (BTC) investment products topped $1 billion last week, with the total year-to-date inflows reaching approximately $14.6 billion, according to CoinShares. This surge in investment is largely attributed to institutions and long-term investors increasing their exposure to spot Bitcoin ETFs. For the week ending May 24, Bitcoin exchange-traded products (ETPs) registered $1.01 billion in inflows. The total inflows for all cryptocurrency investment products reached $1.05 billion, marking an all-time record of $14.9 billion for 2024 so far. CoinShares’ “Digital Asset Fund Flows Weekly” report, published on May 28, highlighted a 28% increase in weekly trading volumes, reaching $13.6 billion. Crypto funds now manage $98.43 billion in assets. Read more Source: https://cointelegraph.com/news/bitcoin-investment-inflows-hit-1b-as-long-term-holders-accumulate

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Filed under: News - @ May 29, 2024 10:26 am