Ethereum

Solana

Bitcoin

James

<ul> 
 <li>Asset managers of digital asset investment products, including CoinShares, Grayscale, 21Shares, Bitwise, and ProShares, recorded $21 million in inflows last week following a six-week series of outflows.</li> 
 <li>Bitcoin dominated crypto fund inflows last week, adding $20.4 million. Short-term Bitcoin investment products saw $1.5 million withdrawn.</li> 
 <li>These sudden inflows came in response to positive price momentum, concerns over U.S. government bond yields, and the recent government funding deadlock.</li> 
</ul> 
According to a new report by CoinShares, Bitcoin led inflows into digital asset investment products last week, while ETH was the least favored altcoin. 
<h2 id="strong-how-did-crypto-funds-perform-strong">How Did Crypto Funds Perform?</h2> 
<img decoding="async" loading="lazy" class="alignnone size-full wp-image-127219" src="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/cryptocurrency-14.webp?resize=696%2C392&amp;quality=70&amp;ssl=1" alt="cryptocurrency" width="696" height="392" srcset="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/cryptocurrency-14.webp?w=1280&amp;quality=70&amp;ssl=1 1280w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/cryptocurrency-14.webp?resize=300%2C169&amp;quality=70&amp;ssl=1 300w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/cryptocurrency-14.webp?resize=1024%2C576&amp;quality=70&amp;ssl=1 1024w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/cryptocurrency-14.webp?resize=768%2C432&amp;quality=70&amp;ssl=1 768w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/cryptocurrency-14.webp?resize=150%2C84&amp;quality=70&amp;ssl=1 150w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/cryptocurrency-14.webp?resize=696%2C392&amp;quality=70&amp;ssl=1 696w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/cryptocurrency-14.webp?resize=1068%2C601&amp;quality=70&amp;ssl=1 1068w" sizes="(max-width: 696px) 100vw, 696px" data-recalc-dims="1"> 
Asset managers of digital asset investment products, including CoinShares, Grayscale, 21Shares, Bitwise, and ProShares, recorded $21 million in inflows last week following a six-week series of outflows. These inflows are considered a turnaround for crypto funds, which had experienced combined outflows nearing half a billion dollars over the past ten weeks. 
Bitcoin dominated crypto fund inflows last week, adding $20.4 million. Short-term Bitcoin investment products saw $1.5 million withdrawn, indicating that investors continued to hold short positions, adding to the $85 million in outflows since April. 
Meanwhile, Solana funds continued to “shine,” according to Butterfill, recording $5.1 million in inflows last week and marking their 27th week of inflows for the year, with only four weeks of outflows in 2023. 
However, Ethereum products recorded their seventh consecutive week of outflows, becoming the “least favored” altcoin due to the launch of Ethereum futures ETFs in the coming weeks, according to Butterfill. 
These sudden inflows came in response to positive price momentum, concerns over U.S. government bond yields, and the recent government funding deadlock, as stated by James Butterfill, Chief of Research at CoinShares, in the company’s latest report. 
Butterfill wrote, “As Friday, the last day of the week, approached, there were signs of further outflows, and we believe that these inflows were a response to a combination of positive price momentum, concerns over U.S. government bond yields, and the recent government funding deadlock. Despite this latest price increase, volumes remain seasonally low both in the investment product market and in the broader crypto market.” 
<h2 id="strong-regional-differences-and-blockchain-stocks-strong">Regional Differences and Blockchain Stocks</h2> 
Inflows were not evenly distributed regionally last week. Europe and Canada saw inflows of $23 million and $17 million, respectively, while the U.S. witnessed $19 million in outflows. 
Blockchain stocks had a less successful week, recording $8.4 million in outflows, with Butterfill noting that they were on par with the broader technology sector in terms of selling. 
The post <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com/last-week-saw-inflows-into-crypto-funds-led-by-bitcoin/">Last Week Saw Inflows into Crypto Funds Led by Bitcoin!</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com">COINOTAG NEWS</a>.

Last Week Saw Inflows into Crypto Funds Led by Bitcoin!

Table of Contents

COINOTAG NEWS

Other articles published on Oct 3, 2023

Crypto Products Record $21 Million Inflows, Solana Leads Altcoin Resurgence

Forgotten Chain Integrates Chainlink Services

Can Bitcoin Reach $145,000? Renowned Analyst Explains!

Ethereum Price Prediction: Will ETH Crypto Slip From This Level?

IOST partners with HAVAH

Bitcoin Surges Past $28K Amidst Whale Transactions and Supply Drop

Join our free newsletter for daily crypto updates!