Crypto News – Investment firm CoinShares stated in a weekly report that about $600 million in inflows into cryptocurrency investment products occurred last week, with over 85% of the total coming from bitcoin-based products.
BTC Investment Products of CoinShares Report Showed $570 Million Inflows Last Week
The year-to-date flows for BTC products have reached $5.6 billion, with inflows of $570 million only this past week alone. Additions of $17 million, $1.8 million, and $1.1 million to ETH, LINK, and XRP were also recorded. Nevertheless, Solana had $3 million in net withdrawals, as head of research James Butterfill said that recent network disruptions might have affected investor sentiment.
Net Inflows Continue in the Fourth Week
All things considered, these products experienced net inflows for the fourth week running, bringing the total amount for the year to $5.7 billion. This suggests that regulated funds are becoming more and more interested in investing in cryptocurrencies. With a net of $610 million coming into cryptocurrency investment products, the United States has emerged as the main driver. Nevertheless, these numbers were influenced by incumbent issuer Grayscale, which had more withdrawals last week totaling $436 million.
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