While Entries into Institutional Bitcoin Funds Continue, This Altcoin is the Focus of Investors’ Attention Again!

Leading cryptocurrency Bitcoinrising above $37,000 again cryptocurrency Entries into investment products continue.

At this point, publishing the weekly cryptocurrency report CoinShares He said there was an inflow of $175.6 million last week.

“Cryptocurrency investment products saw a total of $176 million in inflows last week, following what has now been 8 weeks of consecutive weekly inflows. Net inflows in 2023

“We think this continued positive outlook is related to expectations for the imminent approval of a spot Bitcoin ETF in the US.”

When looking at crypto funds individually, it was seen that the majority of fund inflows were in Bitcoin.

BTCthe largest altcoin with an inflow of $154.7 million last week in Ethereum (ETH) Inflows continued this week and an inflow of 3.3 million dollars was seen.

Indexed to the decline of BTC Bitcoin Short It was observed that there was an outflow of 8.5 million dollars in the fund.

When we look at altcoins, the ones that continue to enter are: Solana (LEFT) 13.6 million dollars, Cardano (ADA) 0.8 million dollars, XRP 0.5 million dollars and Litecoin (LTC) It experienced an inflow of $0.4 million.

“Bitcoin continued to dominate, seeing $155 million worth of inflows.

While there were generally inflows in altcoins, the most notable were Solana and Ethereum.

In contrast, Uniswap and Polygon saw small outflows of $0.55 million and $0.86 million respectively.”

When looking at regional fund inflows and outflows, it was seen that Canada ranked first with an inflow of 97.7 million dollars.

After Canada, Germany ranked second with 63.3 million dollars; Switzerland ranked third with 35.4 million dollars.

In response to these inflows, the USA experienced an outflow of 19.2 million dollars and Sweden experienced an outflow of 1.8 million dollars.

*This is not investment advice.