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While Bitcoin Broke a Record, Institutional Investors Invested in Ethereum (ETH) and a Surprise Altcoin!

source-logo  en.bitcoinsistemi.com 12 February 2024 17:27, UTC

While Bitcoin is approaching $50,000 with its rise, economic data from the USA will be followed this week in BTC and altcoins.

At this point, Coinshares, which publishes its weekly cryptocurrency report, said that there was an inflow of $ 1.1 billion last week.

“Cryptocurrency investment products saw inflows of US$1.1 billion last week, and year-to-date inflows have reached US$2.7 billion.”

When looking at crypto funds individually, it was seen that the majority of fund inflows were in Bitcoin.

While BTC experienced an inflow of $1.08 billion last week, the largest altcoin Ethereum (ETH) saw an outflow of $16.5 million.

There was also a small outflow of $0.4 million in the Bitcoin Short fund, which was indexed to the decline of BTC.

When we look at other altcoins, Cardano (ADA) experienced an inflow of $6.1 million and Solana (SOL) $0.1 million.

“Bitcoin saw almost 98% of inflows, while price appreciation also increased sentiment for Ethereum and Cardano, which saw inflows of $16 million and $6 million respectively.”

When looking at regional fund inflows and outflows, it was seen that the USA ranked first with an inflow of 1,108 billion dollars.

After the USA, Switzerland ranked second with 38.9 million dollars.

In response to these inflows, Canada experienced an outflow of 17.2 million dollars and Germany an outflow of 10.3 million dollars.

*This is not investment advice.