Follow Us @
Investments in cryptocurrency funds hit a record of US$33.5 billion
-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.
Cryptocurrency investment products saw new inflows totaling $2.2 billion last week. New investment has lifted total inflows since interest rates were first cut in September to $11.7 billion.
Meanwhile, year-to-date inflows have reached a record $33.5 billion, as CoinShares pointed out in its weekly report published this Monday (18).
The report also pointed out that, in the first half of last week, investors invested US$3 billion in cryptocurrency funds. However, in the second half of the week, Bitcoin’s historic price rise led to withdrawals, totaling US$866 million.
According to CoinShares, recent market activity, particularly Bitcoin surpassing its all-time highs, has driven total assets under management (AuM) to a new peak of $138 billion at the start of the week.
Cryptocurrency investments
This recent increase in activity appears to be related to a combination of looser monetary policy and the Republican party’s victory in the recent US elections.
Regional sentiment was mixed. The United States led the inflows, as usual, seeing US$2.2 billion in investments. Next come Hong Kong, Australia and Canada with entries of US$27 million, US$18 million and US$13 million, respectively.
Meanwhile, investors in Sweden and Germany took profits, seeing outflows of $58 million and $6.8 million, respectively. Similarly, Brazil recorded withdrawals of US$10.5 million from cryptocurrency funds last week.
Bitcoin saw inflows of $1.48 billion, but these recent all-time highs in price have encouraged investors to add $49 million in Bitcoin short investment products.
Ethereum appears to have broken its negative funk, seeing inflows of $646 million (5% of AuM), likely due to a combination of Justin Drake’s proposed Beam Chain network upgrade and the recent US elections. Solana also saw inflows of $24 million.
Investments in cryptocurrency funds hit a record of US$33.5 billion
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!
Investments in cryptocurrency funds hit a record of US$33.5 billion
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:
Investments in cryptocurrency funds hit a record of US$33.5 billion
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 >
Investments in cryptocurrency funds hit a record of US$33.5 billion
