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While Bitcoin and altcoins started the week positively ahead of the US CPI and PPI data expected to be announced this week, Coinshares published its weekly cryptocurrency report.
Stating that it experienced an inflow of 130 million dollars in cryptocurrency investment products last week, Coinshares said that it saw a total inflow of 130 million dollars for the first time in five weeks.
“Cryptocurrency investment products saw total inflows of $130 million for the first time in five weeks.
Regionally, the US saw inflows totaling $135 million, with Grayscale seeing the lowest weekly outflows since January.”
ETH Sales Increased as Ethereum ETF Approval Expectations Dim!
When looking at crypto funds individually, it was seen that the majority of fund inflows were in Bitcoin.
While BTC experienced an inflow of $144 million, the largest altcoin Ethereum (ETH) saw an outflow of $14.4 million after the previous week, when it broke its 7-week outflow streak and experienced an inflow.
The short BTC fund, which is indexed to the decline of Bitcoin, saw an outflow of 5.1 million dollars.
When we look at other altcoins, Litecoin (LTC) experienced an inflow of $0.1 million, Polkadot (DOT) $1.2 million and Solana (SOL) $5.9 million.
“Bitcoin has seen inflows of $144 million, rounding out a weak month so far. Short Bitcoin has seen outflows totaling $5.1 million, with outflows in the last 8 weeks reaching $18 million.
“Low engagement from US regulators with ETF issuer filings for a spot Ethereum ETF has fueled speculation that ETF approval will not happen anytime soon, reflected in Ethereum outflows last week totaling $14 million.”
When looking at regional fund inflows and outflows, it was seen that the USA ranked first with an inflow of 135 million dollars.
After the USA, Hong Kong ranked second with 19 million dollars.
Against these inflows, Canada received 20 million dollars; Germany, on the other hand, experienced an outflow of 14.9 million dollars.
*This is not investment advice.