CoinShares, a digital asset management firm, has released its latest report on institutional capital inflows into the crypto markets, indicating a positive shift in investor sentiment. This comes after BlackRock’s application for a bitcoin ETF with the SEC. Inflows in the past week amounted to $199 million, the highest for 2023, bringing back nearly half of the previous nine weeks’ outflows. Trading volumes for ETPs were 170% of the average, reaching $2.5 billion. The optimism is attributed to high-profile ETP issuers applying for physically backed ETFs with the SEC. Bitcoin products received the most inflows with $188 million, while short-bitcoin products had outflows for the ninth consecutive week. Ethereum and multi-asset ETPs also saw significant increases, with inflows of $7.8 million and $8.1 million, respectively. Altcoins like XRP and Solana saw minor inflows. This data indicates growing interest and confidence among institutional investors. However, investing in cryptocurrencies involves a high degree of risk.
Continue reading on Crypto.news
By
By
By
By
By