Crypto Funds See $436 Million Inflows After $1.2 Billion Outflows

Follow Us @

Crypto Funds See $436 Million Inflows After $1.2 Billion Outflows
-Trending Marketing news, content marketing, latest Ways to rank your website, marketing discoveries, Local SEO, seo and social media marketing services. enjoy your stay on our website.

Crypto investment products have seen a trend reversal over the past week, according to a CoinShares report published on Monday (16). Crypto funds saw inflows of $436 million after a period of outflows worth $1.2 billion.

According to CoinShares analysts, this surge in inflows towards the end of the week was driven by a significant shift in market expectations towards a potential 50 basis point interest rate cut on September 18, following comments from former New York Federal Reserve Chairman Bill Dudley.

As per the report data, trading volumes in crypto exchange-traded funds (ETFs) were flat at $8 billion during the week, well below the average of $14.2 billion this year so far.

Regionally, the United States saw inflows totaling $416 million last week. In addition, there were notable inflows into Switzerland and Germany of $27 million and $10.6 million, respectively.

Crypto Fund Inflows

Meanwhile, smaller outflows occurred in Canada, totaling $18 million, while in Brazil, inflows of $2.8 million were recorded in crypto funds.

Bitcoin, as usual, was the main focus of crypto investments. The largest cryptocurrency on the market saw inflows of $436 million, having seen a 10-day run of outflows totaling $1.18 billion. Bitcoin short flows reversed, seeing outflows of $8.5 million after 3 consecutive weeks of inflows.

Ethereum (ETH), on the other hand, continued to suffer, seeing $19 million in outflows over the past week, the only other asset alongside short-Bitcoin. CoinShares analysts believe the outflows in ETH products are related to concerns over the profitability of layer 1 networks following the Decun upgrade. On the other hand, Solana saw its fourth straight week of inflows, totaling $3.8 million.

Finally, CoinShares highlighted that Blockchain stocks saw inflows of $105 million following the launch of several new ETFs in the US.

Crypto Funds See $436 Million Inflows After $1.2 Billion Outflows

Follow TODAYSGIST on Google News  and receive alerts for the main trending SEO news, Ai news, latest Ways to rank your website, marketing discoveries, Local SEO and lots more!

Crypto Funds See $436 Million Inflows After $1.2 Billion Outflows

SHARE POST AND EARN REWARDS:

Did you like this post?!!! Join our Audience reward campaign and make money reading articles, shares, likes and comment >> Join reward Program

FIRST TIME REACTIONS:

Crypto Funds See $436 Million Inflows After $1.2 Billion Outflows

Be the first to leave us a comment, down the comment section. click allow to follow this topic and get firsthand daily updates.

JOIN US ON OUR SOCIAL MEDIA: << FACEBOOK >> | << WHATSAPP >> | << TELEGRAM >> | << TWITTER >

Crypto Funds See $436 Million Inflows After $1.2 Billion Outflows

#Crypto #Funds #Million #Inflows #Billion #Outflows