Institutional Investors Pour $1,060,000,000 Into Bitcoin, Ethereum, XRP, Solana and Crypto Assets in One Week: CoinShares - The Daily Hodl
Institutional investors just poured an overall total of $1.06 billion into Bitcoin and crypto assets in one week, according to a new update from Coinshares. This marks a sharp turnaround after $5.7 billion of outflows across four straight weeks. CoinShares attributes the shift in part to comments from FOMC member John Williams, who called monetary […]
Institutional investors just poured an overall total of $1.06 billion into Bitcoin and crypto assets in one week, according to a new update from Coinshares.
This marks a sharp turnaround after $5.7 billion of outflows across four straight weeks.
CoinShares attributes the shift in part to comments from FOMC member John Williams, who called monetary policy restrictive and sparked hopes for a US interest rate cut this month.
Asset-wise, Bitcoin drew $461 million in inflows, while short-Bitcoin ETPs shed $1.9 million as bets on price drops reversed.
Ethereum pulled in $308 million and XRP hit a record $289 million weekly inflow, with six-week gains equaling 29% of its assets under management, tied to recent US ETF launches.
Solana witnessed $4 million of inflows while, Cardano faced $19 million of outflows, or 23% of total assets under management.
By region, the U.S. led with $994 million in inflows despite low volumes. Canada added $97.6 million, and Switzerland saw $23.6 million. Germany bucked the trend with $57.3 million in outflows.
Trading volumes in digital asset ETPs dropped to $24 billion last week, hit by Thanksgiving, down from a record $56 billion the prior week.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Andrey Suslov/Nikelser Kate
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