Ethereum

Rally

Skyrocketing

Bitcoin

Billion

<p>Bitcoin and Ethereum-based fund inflows saw a new record break last week. <a rel="noopener noreferrer nofollow" href="https://blog.coinshares.com/volume-170-digital-asset-fund-flows-weekly-report-1ec8ffde2dda" target="_blank">CoinShares</a>‘ most recent Digital Asset Fund Flows Weekly Report reveals that record weekly inflows of $2.45 billion were made into Bitcoin and Ethereum products. A recent upsurge in investor sentiments has boosted the capital influx in major cryptocurrency-related assets.&nbsp; Additionally, investors are now wondering whether this spike in inflows will fuel an impressive rally in Bitcoin and Ethereum prices.</p>
<h2 id="bitcoin-and-ethereum-see-skyrocketing-inflows">Bitcoin and Ethereum See Skyrocketing Inflows</h2>
<p>The weekly inflows into digital asset investment products were $2.45 billion, making it stand at an all-time high level. Additionally, the year-to-date inflows for crypto-based products stand at an astounding $5.2 billion. These inflows have caused the total assets under management (AUM) to reach $67 billion, the highest level since December 2021, along with recent positive price movements.</p>
<p>The CoinShares report further highlights that over 99% of the inflows went into Bitcoin, although other investors used the chance to increase their short positions in the cryptocurrency, which witnessed inflows of $5.8 million. The $21 million inflows have benefited Ethereum as well. However, there have been withdrawals of $1.6 million due to the recent disruption caused by Solana. Among the companies that have consistently had weekly inflows this year, Avalanche, Chainlink, and Polygon saw inflows of $1 million, $0.9 million, and $0.9 million, respectively.</p>
<h2 id="united-states-leads-investment-numbers">United States Leads Investment Numbers</h2>
<p>The United States led the region with 99% of the inflows, or $2.4 billion. This indicates a notable acceleration in net inflows, dispersed among numerous providers. It also suggests that spot-based ETFs are becoming more and more popular. At the same time, incumbent players’ withdrawals have sharply declined. While Sweden had outflows of $2 million, other regions, like Germany and Switzerland, saw moderate inflows of $13 million and $1 million, respectively.</p>
<h2 id="will-btc-and-ethereum-rally-in-the-future">Will BTC and Ethereum Rally in the Future?</h2>
<p>The hype around Bitcoin ETFs has caused more and more institutional investors to jump on the crypto bandwagon. At present the future looks bright for a lot of cryptocurrencies right now, with <a href="https://coingape.com/bitcoin-to-likely-perform-well-in-2024-as-market-turns-bullish-report/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> leading the pack. Numerous organizations have been speculating that the OG-crypto’s pricing may increase in the future. This includes the prediction from Bitwise that the price of Bitcoin will rise above $80,000 in 2024. Institutional investment in Bitcoin will remain the primary emphasis, at least until the first half of 2024, according to Coinbase. Today’s weekly inflow report further cements the idea that Bitcoin might its all-time high bullish level in the upcoming months of 2024.</p>
<p>On the other hand, the prediction for Ethereum also stands on the positive spectrum of investor outlook. Ethereum is regarded as a pioneer when it comes to smart contracts. Given the revelation of Vitalik’s Ethereum 2024 plan and the upcoming Cancun update, many institutions expect substantial advancements in Ethereum Layer 2, especially in 2024. Amid the growth in the use and application of Ethereum, prices for the latter are also predicted to see an upward trend in the future.</p>
<p>The post <a href="https://coingape.com/breaking-bitcoin-and-ethereum-set-record-with-2-45-billion-inflow/" rel="noopener noreferrer nofollow">Breaking: Bitcoin and Ethereum Set Record With $2.45 Billion Inflow</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.</p>

Breaking: Bitcoin and Ethereum Set Record With $2.45 Billion Inflow

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