Crypto funds record 3rd consecutive week of inflows totaling US$1.2 billion

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Crypto funds record 3rd consecutive week of inflows totaling US$1.2 billion
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Crypto investment products recorded a third consecutive week of inflows, totaling $1.2 billion, as reported by CoinShares in its weekly report. According to the company, everything indicates that these consecutive entries are related to the continued expectations of dovish monetary policy in the US and the associated positive price momentum;

According to the report, released this Monday (30), total assets under management (AuM) in crypto products increased by 6.2% last week.

“The approval of options for certain US-based investment products likely boosted sentiment, although trading volumes did not see a commensurate increase, in fact they fell slightly by 3.1% week over week,” CoinShares highlighted in the report.

Regionally, sentiment toward crypto funds has been polarized. In the United States, for example, digital asset investment products received inflows of US$1.2 billion. Switzerland registered investments of around US$84 million. This is the largest weekly inflow since mid-2022. Australia recorded inflows of US$600,000 and Canada of US$1 million.

Inflows into crypto funds

In contrast, German and Brazilian crypto funds saw outflows of $21 million and $3 million, respectively. Similarly, Hong Kong recorded outflows of US$1 million.

Bitcoin recorded inflows of around US$1 billion. However, this also stimulated new inflows into short-Bitcoin investment products, to the tune of US$8.8 million.

Ethereum, in turn, broke its five-week negative period, with inflows of US$87 million. As CoinShares pointed out, these are the first measurable inflows since the beginning of August for the market’s biggest altcoin. On the other hand, Solana saw outflows of US$4.8 million.

According to the report, sentiment was mixed regarding altcoins. Litecoin and XRP, for example, recorded inflows of US$2 million and US$800 thousand, respectively. Meanwhile, Binance Coin (BNB) and Stacks saw outflows of $1.2 million and $900,000 respectively.

Crypto funds record 3rd consecutive week of inflows totaling US$1.2 billion

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Crypto funds record 3rd consecutive week of inflows totaling US$1.2 billion

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Crypto funds record 3rd consecutive week of inflows totaling US$1.2 billion

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Crypto funds record 3rd consecutive week of inflows totaling US$1.2 billion

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