Ethereum

United

Bitcoin

Million

With total inflows over the past week approaching $114 million, institutional investors are showing increased interest in cryptocurrencies as financial products. With a total of $345 million, the amount represents the fourth straight week of inflows, essentially reversing a $6-week outflow pattern that totalled $408 million. 
With contributions of $58 million and $35 million, respectively, the United States and Germany took the lead. This investment increase occurs when Bitcoin trade volumes are still quite low, averaging about $5.6 billion per day as opposed to the $12 billion daily average over the year. 
Although trading volumes have decreased, investors’ attention has once again been drawn to Bitcoin ($BTC), which had inflows of $104 million last week, increasing its four-week total to $310 million, according to CoinShares. The firm’s study suggests that a continued “flight to safety” by investors “fearful of the ongoing traditional finance challenges” may be the cause of the rising interest in the company’s flagship cryptocurrency. 
The fact that short Bitcoin positions also got $14.6 million in inflows last week indicates that attitudes are still mixed. Unlike Bitcoin, Ethereum only had tiny inflows of $300,000 last week, despite the successful rollout of the Shapella update on mainnet, which enabled the withdrawal of staked Ether. 
Even while network validators are preparing to remove a substantial percentage of their profits, the successful implementation of Shapella has caused an increase in the price of Ethereum. According to a report by CryptoGlobe, the second-largest digital currency by market value is scheduled to be taken off the network for around $2 billion. 
With the exception of Polygon, which saw $2.1 million in withdrawals last week, there hasn’t been much action in altcoins. Each of the investment products with a concentration on $XRP and $ADA received $100,000 in new money. 
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The post <a rel="nofollow" href="https://bitcoinworld.co.in/institutional-investors-pour-over-100-million-into-btc-investment-products-amid-flight-to-safety/">Institutional Investors Pour Over $100 Million Into BTC Investment Products Amid ‘Flight to Safety’</a> appeared first on <a rel="nofollow" href="https://bitcoinworld.co.in">BitcoinWorld</a>.

Institutional Investors Pour Over $100 Million Into BTC Investment Products Amid ‘Flight to Safety’

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