Crypto funds see weekly inflows of $321 million; Brazil invests $1.4 million

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Crypto funds see weekly inflows of $321 million; Brazil invests $1.4 million
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Digital asset investment products, also called crypto funds, saw a second consecutive week of inflows, totaling $321 million.

According to CoinShares’ weekly report, published this Monday (23), this increase is likely related to the Federal Open Market Committee’s (FOMC) comments last Wednesday, which adopted a more moderate stance than expected, including a 50 basis point cut in the interest rate.

As a result, total assets under management (AuM) grew by 9%. Total investment product volume was $9.5 billion, up 9% from the previous week.

Crypto fund inflows were mixed regionally. The United States, for example, saw inflows of $277 million. Switzerland, meanwhile, saw the second-largest weekly inflow of the year, with $63 million. Brazil, meanwhile, invested $1.4 million into crypto funds last week.

Crypto funds start receiving inflows again

On the other hand, Germany, Sweden, and Canada saw outflows of $9.5 million, $7.8 million, and $2.3 million, respectively. Similarly, Hong Kong withdrew $1.3 million from crypto funds.

The main focus, as usual, was on Bitcoin. The largest cryptocurrency on the market saw inflows of $284 million in the last week. However, recent price movements have also driven inflows into short-Bitcoin investment products, totaling $5.1 million.

As CoinShares highlighted, Ethereum (ETH) continued to be an outlier among cryptocurrencies. The largest altcoin on the market saw outflows for the fifth consecutive week, totaling around $29 million last week.

According to the report, this is due to persistent outflows from the Grayscale Trust crypto fund. It may also be related to Bitcoin exchange-traded funds. After all, these ETFs have seen few inflows. Binance’s native token BNB also saw outflows of $700,000, and Cardano (ADA) saw withdrawals of $200,000.

Meanwhile, Solana investment products continue to see small but consistent weekly inflows, totaling $3.2 million last week. Litecoin (LTC) and XRP saw inflows of $200,000 and $100,000, respectively.

Crypto funds see weekly inflows of $321 million; Brazil invests $1.4 million

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Crypto funds see weekly inflows of $321 million; Brazil invests $1.4 million

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Crypto funds see weekly inflows of $321 million; Brazil invests $1.4 million

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Crypto funds see weekly inflows of $321 million; Brazil invests $1.4 million

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