Weekly Inflows into Crypto Assets See Strong Growth
CoinShares has reported that there were strong inflows into crypto asset management products for the second consecutive week, with $125 million entering the industry last week. This brings the total inflows to $334 million over the past two weeks.
Key Points:
– Bitcoin investment products accounted for the majority of inflows, with over 98% of funds tied to the largest cryptocurrency by market capitalization.
– Short-bitcoin investment products experienced outflows of $0.9 million.
– This surge in inflows marks a significant turnaround for the sector, which had been experiencing outflows in the weeks leading up to June.
– The market rally that began after the filing of new spot exchange traded funds, currently awaiting review by the U.S. Securities and Exchange Commission, has contributed to this shift.
This recent growth in inflows reflects increasing investor interest in crypto assets, particularly Bitcoin. The market rally and anticipation of potential regulatory developments are driving this trend. However, it remains to be seen whether this upward trend will continue in the coming weeks.
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