Bitcoin (BTC) Breaks New Records
Bitcoin (BTC) broke new records last week, rising above $111,000. While the new ATH in BTC also brought a rise to Ethereum (ETH) and altcoins, Coinshares released its weekly cryptocurrency report and said that there was an inflow of $3.3 billion last week.
“Inflows into cryptocurrency investment products reached $3.3 billion last week. Since the beginning of this year, inflows have reached a record $10.8 billion.”
Bitcoin (BTC) Takes the Lead!
When looking at individual crypto funds, it was seen that the majority of inflows were in Bitcoin. While BTC experienced an inflow of $2.97 billion, the positive sentiment continued in Ethereum, with an inflow of $326.2 million.
When we look at other altcoins, SUI experienced an inflow of $2.9 million, Solana (SOL) experienced an inflow of $4.3 million, while XRP experienced an outflow of $37.2 million.
“Bitcoin took the lead with inflows of $2.9 billion, accounting for a quarter of total inflows in 2024. Ethereum saw inflows of $326 million, the most in 15 weeks, and gained for the fifth week in a row as sentiment continued to improve. XRP’s remarkable 80-week run of inflows has ended with the largest outflow on record, worth $37.2 million.”
Regional Fund Inflows and Outflows
When looking at regional fund inflows and outflows, the USA ranked first with an inflow of 3.22 billion dollars. After the USA, Germany had an inflow of $41.5 million and Hong Kong had an inflow of $33.3 million. Against these inflows, Switzerland experienced an outflow of $16.6 million and Sweden $12.1 million.
*This is not investment advice.
