Crypto Investment Products Raises $78M In Inflows Last Week
Key Points:
Alongside this surge in investor interest, trading volumes for Exchange-Traded Products (ETPs) also witnessed a substantial uptick, rising by 37% to reach $1.13 billion over the same week. Additionally, Bitcoin trading volumes surged by 16% on trusted exchanges, further emphasizing the growing enthusiasm for cryptocurrencies.
Regionally, the disparity in crypto investment products sentiment persists, with Europe dominating the scene by accounting for 90% of the inflows. In contrast, the United States and Canada collectively saw a modest influx of just $9 million, indicating a continued divergence in investor sentiment.
Bitcoin emerged as the primary beneficiary of this trend, attracting inflows amounting to $43 million in the past week. Interestingly, some investors perceived the recent price strength as an opportunity to bolster their short positions on Bitcoin, resulting in inflows of $1.2 million during the same period.
Notably, Solana experienced its most substantial week of inflows, attracting US$24 million, marking its highest inflow since March 2022. Solana continues to establish itself as the preferred altcoin, particularly in light of recent Ethereum product launches.
The previous week presented a significant test for Ethereum’s investor appetite, following the introduction of six futures-based Exchange-Traded Funds (ETFs) in the United States.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
London, United Kingdom, 25th June 2024, Chainwire
Chicago, United States, 25th June 2024, Chainwire
At WEWE Global, we understand the transformative power of empathy and its vital role in…
Nubank Bitcoin Lightning Network will be integrated through a partnership with Lightspark to offer near…
NoToKYC emerges as the premier platform for no KYC casinos, exchanges and exclusive bonuses in…
Hamster Kombat is yet another Telegram-based game that allows players to earn free profits by…
This website uses cookies.