Bitcoin and Three Altcoins Attract Institutional Investors Following CPI Data
Last week, Coinshares reported a significant influx of $932 million into Bitcoin and cryptocurrency investment products. This surge in investments was prompted by the anticipation of an interest rate cut and positive CPI data.
According to Coinshares, the majority of the inflows occurred during the last three trading days of the week, accounting for 89% of the total flows. Grayscale, which had experienced $16.6 billion in outflows since launching its ETF in January, also saw small inflows for the first time.
While Bitcoin attracted an inflow of $942 million, Ethereum faced an outflow of $23.3 million, indicating a downtrend. However, other altcoins such as Chainlink, Cardano, and Solana saw inflows of $3.7 million, $1.9 million, and $4.9 million, respectively.
In terms of regional fund inflows and outflows, the United States ranked first with an inflow of $1 billion, followed by Switzerland with $27.1 million. Hong Kong received $82.5 million in inflows, while Kamada experienced an outflow of $16.7 million.
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