17.6 C
25 June 2024
Image default

Crypto ETPs See $2,000,000,000 in Inflows Amid Anticipation of Rate Cuts: CoinShares

Digital assets manager CoinShares says institutions poured two billion dollars into crypto products last week alone.

In its latest Digital Asset Fund Flows report, CoinShares says digital asset investment products reached $2 billion last week, equaling the totals from the four weeks prior.

“Digital asset investment products saw inflows totaling US $2bn, bringing this recent five-week run of inflows to US$4.3bn. Trading volumes in ETPs rose to US$12.8bn for the week, 55% up from the week prior. Unusually, inflows were seen across almost all providers, with a continued slowdown in outflows from incumbents. We believe this turnaround in sentiment is a direct response to weaker than expected macro data in the US, bringing forward monetary policy rate cut expectations.”

Source: CoinShares

Regionally, the United States raked in nearly $2 billion in inflows alone, seeing the record third-largest daily inflow records on the first day of the period.

The largest crypto by market cap, Bitcoin (BTC), per usual, took the lion’s share of the inflows at $1.97 billion.

“… while short-bitcoin saw outflows for the 3rd week in a row totaling US$5.3m.”

Ethereum (ETH) led all altcoins with $69 million in inflows. XRP, Chainlink (LINK), Solana (SOL) and BNB brought in $1.2 million, $0.7 million, $0.7 million, $0.7 million and $0.2 million, respectively.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post Crypto ETPs See $2,000,000,000 in Inflows Amid Anticipation of Rate Cuts: CoinShares appeared first on The Daily Hodl.

Related posts

Aptos (APT) Skyrockets 32%, Bitcoin Remains Flat on Low Trading Volume (Weekend Watch)


Bitcoin price prediction: BTC/USD stays lethargic, no way out from the range – Bitcoin confluence


Bitcoin.com’s Roger Ver may get served with legal notice from Gregory Maxwell

Verified by MonsterInsights