tl;dr
According to CoinShares' latest report, institutions reentered the cryptocurrency investment space with $862 million in inflows last week, countering the prior week's $931 million outflows. While Bitcoin experienced significant inflows, ETF activity is slowing down, with daily trading turnover decre...
According to CoinShares' latest report, institutions reentered the cryptocurrency investment space with $862 million in inflows last week, countering the prior week's $931 million outflows. While Bitcoin experienced significant inflows, ETF activity is slowing down, with daily trading turnover decreasing by 36% from its recent peak. The US led in inflows at $897 million, while Europe and Canada saw outflows of $49 million. Ethereum, however, suffered its fourth consecutive week of losses, with $19 million in outflows. Meanwhile, alternative cryptocurrencies like Solana, Filecoin, Polkadot, and Chainlink attracted varying levels of inflows. CoinShares states that institutions resumed investing in crypto products last week after a brief break. Digital asset investment products brought in $862 million in inflows last week, nearly erasing the prior week’s $931 million outflows. "While this recovery is encouraging, ETF activity is slowing down, with daily trading turnover now at US $5.4 billion, down 36% relative to its peak 3 weeks ago, although this remains well above the US$ 347 million 2023 average, implying the initial market hype is cooling.” Regionally, the US brought in most of the inflows at $897 million, which was offset by outflows from Europe and Canada that reached $49 million. Bitcoin saw inflows totaling US $865 million, with renewed appetite from new ETF issuers in the US, seeing US $1.8 billion inflows, offset by Grayscale’s US $967 million outflows. Short-bitcoin saw outflows for the second week, totaling US $2 million. Leading smart contract Ethereum suffered outflows of $19 million, the fourth consecutive week of losses for ETH products. ETH-rival Solana brought in $6.1 million of inflows while Filecoin, Polkadot, and Chainlink brought in $3.9 million, $2.4 million, and $1.9 million, respectively.
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