Solana

Bitcoin ETF

Million

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 <p>Bitcoin ETF (exchange-traded fund) fever helped crypto investment products attract $151 million in inflows during the first week of 2024.</p> 
 <p>Bitcoin-based funds attracted the lion’s share of the inflows with $113 million, CoinShares said. The report records inflows to crypto funds at asset managers like CoinShares, Bitwise, Grayscale, ProShares, and 21Shares,</p> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
  <p lang="en" dir="ltr">🟢&nbsp;2024 is off to a strong start, with US$151 million in inflows! Total inflows since the Grayscale vs SEC lawsuit now stand at US$2.3 billion.</p> 
  <p>Notable asset inflows include:$BTC: US$113m inflows$ETH: US$29m inflows$ADA: US$3.7m inflows$AVAX: US$2m inflows$LTC: US$1.4m… pic.twitter.com/9wfshmqxsB</p> 
  <p>— CoinShares (@CoinSharesCo) January 8, 2024</p>
 </blockquote> 
 <p></p> 
 <h2 id="us-attracted-most-crypto-inflows">US Attracted Most Crypto Inflows</h2> 
 <p>From a regional standpoint, 55% of the total funds came from US-based exchanges. Germany and Switzerland accounted for 21% and 17% of inflows, respectively.</p> 
 <p>Besides Bitcoin, Ethereum investment products also added inflows worth $29 million, bring its total inflows to $215 million over nine weeks. CoinShares head of research James Butterfill attributes this to a shift in market sentiment and says the uptick comes as the market anticipates an Ether ETF shortly after Bitcoin ETFs start trading.</p> 
 <p>Cardano (ADA), Avalanche (AVAX), and Litecoin (LTC) are among the other large market-cap altcoins that also recorded inflows. They registered $3.7 million, $2 million, and $1.4 million of inflows respectively.</p> 
 <p>As the market shifts focus from SOL to ETH, Solana products recorded $5.3 million in outflows during week one of 2024, when SOL’s market value slumped 10%. SOL had pumped so hard in December&nbsp;that it threatened to displace BNB as the fourth-largest crypto by market cap.</p> 
 <h3 id="strong-also-read-strong"><strong>Also Read:</strong></h3> 
 <ul> 
  <li>Bitcoin Price Prediction: As CNBC Says BTC ETFs May Start Trading On Thursday Or Friday, Investors Flock To This Bitcoin Bull Run Play That’s Raised Almost $8 Million</li> 
  <li>Ethereum Price Prediction: Surging ETH Inflows Suggest A Turnaround In Sentiment As This Small Cap AI Coin Powers To Within A Whisker Of $2.5 Million</li> 
  <li>3 Altcoins Poised to Follow Solana’s Explosive Growth in 2024 – AVAX, DOT, and LINK</li> 
 </ul> 
 <p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/bitcoin-etf-hype-helps-attract-151-million-in-inflows-to-crypto-funds-in-the-first-week-of-2024-tbt76061.html">https://thebittimes.com/bitcoin-etf-hype-helps-attract-151-million-in-inflows-to-crypto-funds-in-the-first-week-of-2024-tbt76061.html</a></p>
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Bitcoin ETF Hype Helps Attract $151 Million In Inflows To Crypto Funds In The First Week Of 2024

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TheBitTimes

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