Ethereum

Solana

United

Bitcoin ETF

Bitcoin

Digital asset investment products marked the most significant weekly increase in over a year and a half. With an inflow of $326 million, a bullish momentum has been set in the market. Weekly Crypto flowsSource: CoinShares report 
Bitcoin’s price also increased over the past few days. It reflects investor confidence in the potential approval of a spot-based Bitcoin Exchange-Traded Fund (ETF) by the US Securities and Exchange Commission (SEC).
This massive influx of funds has predominantly favored Bitcoin and attracted a staggering 90% of the total inflow. However, the recent surge in Bitcoin’s price was also led by substantial investments in short-Bitcoin products ($15 million). Investors are likely hedging their positions as they anticipate continued volatility in the crypto market. Flows by tokensSource: CoinShares report Solana grabs interest of investors 
Surprisingly, the rising tide of optimism extends beyond Bitcoin. Solana highlighted the <a href="https://news.todayq.com/report-solana-could-grow-10600-by-2030/" rel="noopener noreferrer nofollow">broader interest</a> in alternative digital assets by registering an influx of $24 million. Source: CoinShares report 
On the other hand, Ethereum experienced outflows amounting to $6 million. It indicates challenges or <a href="https://news.todayq.com/ethereums-sloppy-performance-can-turn-around-according-to-analysts/" rel="noopener noreferrer nofollow">concerns</a> surrounding the second-largest cryptocurrency.
The staggering inflows have propelled the total assets under management for digital asset to reach $37.8 billion. It marks a high not seen since May 2022. Crypto investors from all across the globe 
The largest inflows were reported from Canada ($134 million), Germany $82 million, and Switzerland ($50 million). Asia also played a significant role by recording its highest weekly inflows at $28 million. Flows by CountrySource: CoinShares report 
Largest financial market, the United States contributed only 12% of the total inflow. Investors are <a href="https://news.todayq.com/secs-bitcoin-etf-decision-delays-trigger-significant-sell-off-ethereum-and-altcoins-follow-suit/" rel="noopener noreferrer nofollow">awaiting</a> for the anticipated spot-based Bitcoin ETF as only $38 million inflows were recorded. What could drag the maket down? 
Despite being the largest weekly inflow in well over a year, it ranks only 21st in historical records. This indicates that investors are still cautioned. Nevertheless, industry experts believe that the approval of a spot-based Bitcoin ETF in the near future is highly likely. That will mark a pivotal moment from a regulatory perspective for the crypto industry.
The crypto industry is poised for a potential transformation as anticipation for a US SEC-approved Bitcoin ETF grows. It will offer new avenues for both institutional and retail investors. While the recent inflow is noteworthy, the continued restraint among investors, underscores the the nature of crypto investors.
© Todayq News

Rising optimism fuels unprecedented inflows in Crypto market

Todayq News

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