Ethereum

Solana

Bitcoin ETF

Bitcoin

James

<div class="coinjournal">
 <ul>
  <li dir="ltr">Bitcoin products saw $55.3 million in inflows, short bitcoin products recorded $1.7 million.</li>
  <li dir="ltr">BTC price rose to highs above $35k amid speculation around a spot Bitcoin ETF.</li>
  <li dir="ltr">In altcoins, Solana (SOL) saw inflows of $15.5 million but Ethereum saw $7.4 million in outflows.</li>
 </ul>
 <p dir="ltr">Crypto products have registered institutional inflows for a fourth consecutive week, with Bitcoin seeing the most inflows amid its recent price spike. Today, the leading digital asset saw its price rise sharply to above $35k, suggesting the trend is likely to continue as sentiment slowly shifts towards a solid bullish outlook.</p>
 <h2 dir="ltr" id="66-million-in-inflows-last-week">$66 million in inflows last week</h2>
 <p dir="ltr">It appears institutional appetite for crypto investment products is hitting new levels as more people pour money into crypto funds. A report by digital asset manager CoinShares shows that cryptocurrencies are on a four-week streak of inflows, with Bitcoin accounting for the largest share of that with 84%.</p>
 <p dir="ltr">While Bitcoin products recorded $55.3 million in <a rel="noopener noreferrer nofollow" title="inflows" href="https://thebittimes.com/tag/inflows.html">inflows</a>, short bitcoin products saw $1.7 million. According to James Butterfill, the head of research at CoinShares, it’s a scenario that suggests “short sellers are losing confidence.”</p>
 <p dir="ltr">Solana (SOL), which has seen bullish strength since breaking above $20, also recorded significant <a rel="noopener noreferrer nofollow" title="inflows" href="https://thebittimes.com/tag/inflows.html">inflows</a> with $15.5 million. This continues a trajectory that sees <a rel="noopener noreferrer nofollow" title="inflows" href="https://thebittimes.com/tag/inflows.html">inflows</a> into the altcoin account for 47% of the category’s assets under management (AuM) year-to-date. Meanwhile, Ethereum saw $7.4 million in outflows this past week.</p>
 <p dir="ltr">“<em>While the most recent <a rel="noopener noreferrer nofollow" title="inflows" href="https://thebittimes.com/tag/inflows.html">inflows</a> are likely linked to excitement over a spot bitcoin ETF launch in the US, they are relatively low in comparison to June announcements, suggesting more caution from investors this time round</em>,” Butterfill wrote in the report.</p>
 <p dir="ltr">Nonetheless, speculation over a potential spot Bitcoin ETF triggered <a rel="noopener noreferrer nofollow" title="BTC" href="https://thebittimes.com/tag/btc.html">BTC</a>’s sharp <a rel="noopener noreferrer nofollow" title="spike" href="https://thebittimes.com/tag/spike.html">spike</a> to its 17-month high above $35k early Tuesday. This momentum could take <a rel="noopener noreferrer nofollow" title="BTC" href="https://thebittimes.com/tag/btc.html">BTC</a> higher and signal a bullish flip that develops into a raging bull market.</p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/crypto-sees-66m-in-institutional-inflows-amid-bitcoin-spike-tbt67518.html">https://thebittimes.com/crypto-sees-66m-in-institutional-inflows-amid-bitcoin-spike-tbt67518.html</a></p>

Crypto sees $66M in institutional inflows amid Bitcoin spike

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TheBitTimes

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