Key Points:
Read more: Metaplanet Bitcoin Investment Has Now Surpassed 1,000 BTC
The inflow surge represents the fourth-largest monthly inflow on record and increases the total inflow this year to $27 billion, nearly tripling the previous record set in 2021 of $10.5 billion.
Regionally, the United States accounted for inflows of 906 million dollars. Germany was up $14.7 million, and Switzerland was up $9.2 million. Other regions are showing outflows, with Canada down $10.1 million. Brazil had outflows of $3.6 million, and Hong Kong was down by $2.7 million.
Bitcoin was still the primary staple, raking in $920 million in inflows. Curiously, this was not complemented with inflows into short-bitcoin positions, which usually rise in tandem. Instead, short-bitcoin investments had minor outflows of $1.3 million. Analysts say US political variables might be at play, especially recent gains by Republican candidates in the polls, which could drive fresh interest in investments in Bitcoin.
In contrast, Ethereum suffered the largest outflows of any digital asset investment products last week, with $35 million being pulled out. Solana was better off, though, as it saw the second-highest inflows at $10.8 million, which does suggest continued investor interest.
Blockchain equities also show some signs of recovery, with inflows recorded for the third consecutive week- $12.2 million last week. This reflects the general resurgence of blockchain-related assets on the back of improved market sentiment, particularly in the U.S. market.
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. |
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